From the LSF announcement about the buyback of 18 May 2022:
" . . the current intention of the LSF directors is to only buy back shares if the LSF share price trades at a discount to post tax net tangible asset backing per LSF share (NTA) of 10% or more."
Post tax NTA as at 19 Oct was $2.66. 10% is 27 cents. In theory, they could buy back shares if the SP is $2.39 or less.
The directors can change their intentions if they choose to do so. For example, if they changed the 10% rule to 5% then the big sell order at $2.42 would soon be gobbled up. LSF would still make at least 5% profit on all shares bought back, which would be good for all shareholders. So far, there has only ever been one change to LSF's buyback rules. The 10% rule used to apply to the lower of pre-tax and post-tax NTA. Now it applies only to the post-tax NTA..
From the LSF announcement about the buyback of 18 May 2022:" . ....
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Last
$3.15 |
Change
0.020(0.64%) |
Mkt cap ! $1.960B | |||
| Open | High | Low | Value | Volume |
| $3.16 | $3.16 | $3.11 | $1.140M | 364.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 6503 | $3.12 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.15 | 48522 | 2 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| LSF (ASX) Chart |