I got a call back from WAYNE last night 5pm ..
he said Directors need to have another meeting to remove the self imposed Block for buying shares in SBB
the Directors buying Block was imposed as they had inside knowledge of a Transaction Citi was negotiating to move the 60m of shares they are sitting on for clients to Purchasers the directors introduced..
Ie purchaser + seller want a price they cannot agree on ..directors could not be seen as interfering with the sp during this process.
when i pushed him for a time frame to release the block to directors purchasing shares ..he said they expect to lift the block in the next Coy meeting in December.
The Dividend is due to be announced in FEB after end of year accounts are formalized in January ..and paid by APRIL as that is stated in previous Announcements by SBB.
it will be 25% of EPS
he said the 30m Cash stays in China to benefit from the Exchange rates ..as the USD +YAN appreciate against the falling AUD .. we win more !! .now 85c today !!!!
SBB Price at posting:
8.4¢ Sentiment: Buy Disclosure: Held
