From my understanding of the situation, I don't think you can expect to be able to sell all your shares into the buyback. The funds set aside to be used would only buy back around one third of the shares on issue if the buy back price was around $11. If price is more, then percentage to be bought would drop back.
In the first instance, I believe that the buyback would be on a pro-rata basis to shares already held. However, if some shareholders decide not to participate (on the basis that the remaining Boutiques will continue to increase in value), then we may be able to sell more into the process.
So I am interested in finding out what the forecasted earnings might be for the remainder of the portfolio, and what will be the dividend policy.
Cheers Westwind
PAC Price at posting:
$10.78 Sentiment: Hold Disclosure: Held
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