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Well said mate. As a long term holder I'll be hoping the share...

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ZaneQD

43 Posts.

05/02/16

11:38

Post #: 16949597
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Originally posted by madanglighthouse ↑

Legend have announed a buyback of up to 21.9 million shares over a 12 month period.
When they are buying, they are wearing a different hat. They want to drive the share price down for 2 reasons:
1) They get better value for their money & it doesn't change the nature of the business itself;
2) They can shake the trees to get all the loose chimps to fall out - so that they eventually end up with a better (as far as they are concerned) quality investor who will hang on to his shares through thick & thin till he gets a better price;

They would also be motivated to take this aproach now (rather than later), because they will be coming out with their figures pretty soon & I expect a (decent) surprise on the upside for 2 reasons:
1) Revenue from purchase of SCE will have started to kick in;
2) Less shares on issue means an increase in EPS.
At which point, the share price will likely rise again.
Just my thoughts...

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Well said mate. As a long term holder I'll be hoping the share price stays rather supressed over the next 12 months as to allow for the best value for the buyback. A little temporary pain (or not depending when you got in) for a long term gain.

LGD Price at posting: 23.0¢ Sentiment: Buy Disclosure: Held
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