For anyone that closely follows closed funds, like LICs and LITs, share buybacks rarely have any long term benefit to closing the gap. Rather, they seem to be a short term fix, mainly to calm a rising tide of disgruntled investors. My guess is they already knew there was a growing chorus of people wanting the fund to be wound up or converted. The VGI staple have been an utter disaster for the last 6 odd years.
Ann: Commencement of Increased On-Market Buy-back, page-8
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$1.90 |
Change
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Mkt cap ! $559.2M | |||
| Open | High | Low | Value | Volume |
| $1.91 | $1.92 | $1.90 | $209.6K | 109.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 6936 | $1.90 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.92 | 60414 | 3 |
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