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Company buyback?

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DEP
Super Contributor
Absa shares holding up today versus other banks. I think company buying back its own shares, at R88.80 is a give away...
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12 REPLIES 12
Not applicable
SHhHHHHHHH! everytime anyone mentions ABSA they drop!
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Preston
Super Contributor
Resolution need to passed by Barclays.
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DEP
Super Contributor
SENS 23 April 2008 Resolution to consider and, if ---- 99.6% Passed deemed fit, with or without modification the special resolution in order to provide the directors flexibility to repurchase shares as and when suitable situations arise
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Preston
Super Contributor
Yes.once resolution is passed, general or specific approval then passes into the hand of the directors.
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Not applicable
Would the buy back push the share up ???
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Preston
Super Contributor
Share buyback will reduce the number of shares in circulation, this in turn will ideally push up the price of the share.Shares that are bought back are either cancelled or become part of authorised share capital. By the way , how is the physio coming alone?
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Not applicable
Hi Preston .... I'm doing much better thanx.I will chat to you guys later on.Looks like ASA is dieing slowly ... it broke it's resistance of 8800 .... looks like 8000 here we come
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platsak
Super Contributor
The way banking shares is going at the moment they can problably buy back at 70 one of these days.
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Not applicable
ASA falling like a bomb .... R3 down in the 1st 15 mins of trade .... WOW ..... more like R70 here we come !!!! This sucks
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Not applicable
they dropping just as all the other banks are... due to the market now pricing in a posible 200pnt hike....
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asylum
Super Contributor
no worries if you had bought asa in 1987 you would have still made 72% year on year for the last 20 years at the current R83 price. Can that be right?
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louisg
Super Contributor
No asylum. If ASA was bought at 1c 20 years ago, and it compouned at 72% a year, ASA would be worth R513 today. There is a huge difference between the average return and compound return, especially if there are negetives involved and it is over the long term.eg. The average return a yesr for an investment that doubles in 10 years is 10%(100%/10). The compound rate of return is 7.18%.
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