Thats what the notice says -"acting on behalf of CDM". It is unlikely that they would be paying anything like the charges retail clients would be paying for buy orders - it would be a negotiated price if not included in a fee for other activities. It is likely they do this to ensure that they buy share parcels within a nominated price range immediately they are available and does not cause CDM to watch the market 24/7 to get them. We also do not know what other fee arrangements CDM might have with CMC which might include these activities. Personally I would prefer that they are not paying any commission as the NTA and SP performance of this LIC has been terrible over the last 12 mos and a buyback does not seem to be doing anything to improve it.
Ann: Announcement of buy-back - Appendix 3C, page-14
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Last
73.0¢ |
Change
0.020(2.82%) |
Mkt cap ! $208.5M | |||
| Open | High | Low | Value | Volume |
| 71.0¢ | 73.0¢ | 70.0¢ | $370.0K | 524.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 30878 | 70.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 73.0¢ | 58039 | 2 |
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| Last trade - 11.36am 05/08/2024 (20 minute delay) ? |
| CDM (ASX) Chart |