Ann: Daily share buy-back notice - Appendix 3E , page-2

re: Ann: Daily share buy-back notice - Append... In the news again

SUNLAND (SDG)
IN MARCH we talked about troubled property group Sunland. The company's share has been traded about half stated asset backing since the global financial crisis struck in 2008.
The company has aggressively bought back its own shares to enhance the value for shareholders. By the end of last year the company had bought 150 million shares and announced it would buy another 48 million. A poor December-half result drained the group of cash and the buyback went on hold. But last week Sunland announced it had reignited the buyback, purchasing 118,655 shares at prices between 78.5¢ and 80¢. If Sunland acquires all 48 million shares for about 80¢ and cancels them, it will push the net asset backing from $1.69 towards $2.


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