Can anyone confirm this for me?
A company is allowed to buyback it's own shares on market up to a total of 1% per week until a 5% stake is reached before it has to declare this to the ASX.
If this is the case TLS could buyback about $1.375 billion in shares and pocket around 350 basis points of differential between the rates they pay on debt as opposed to the dividend payout.
Seems absurd not to be doing this if they could.
Perhaps they can't because the NBN deal is still secret and would be market sensitive and therefore rule out any trading in thier securities until the market has this infromation.
Really does just baffle me as to why they aren't buying back the shares when it equates to free money.
Can anyone confirm this for me?A company is allowed to buyback...
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Last
$3.94 |
Change
0.040(1.03%) |
Mkt cap ! $45.52B | |||
| Open | High | Low | Value | Volume |
| $3.90 | $3.94 | $3.89 | $114.7M | 29.20M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 75339 | $3.93 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.94 | 21984 | 1 |
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| Last trade - 16.10pm 31/07/2024 (20 minute delay) ? |
| TLS (ASX) Chart |