On 18 March APD announced it issued a million shares under its employee share scheme at 92c a share. Its unclear whether the employees actually paid for these or it was a gift, but anyway thats the stated price.
On 20 March APD announced it had bought back 20,000 for just over 95c each.
Sell the shares at 92c and then buy them back at 95c. Well that sounds like smart capital management NOT
Well one of the directors bought quite a lot of shares back in December for $2 each so I guess they are sharing the pain, a bit.
APD Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
