Sell @ $0.235, $0.24
Good thing I was busy in the AM and wasn't monitoring as I was planning to sell @ $0.225 a few days back but raised my target to $0.23 when I noticed some buying. Vol = 1,738,000 ; Range = $0.23 to $0.245
After mkt closed, SGX Annc of Shares Buy Back (Finally! After 8mths as last one was on -Aug-13!). Details,
- 1,100,000 @ $0.2358
We were highly suspicious it was Shares Buy Back in action and calculated the Max Buy Price (allowable) = $0.2363 based on,
- 105% * Average Closing for Past 5 Sessions
Closing Prices,
- 11-Apr (Fri) : $0.23
- 10-Apr (Thu) : $0.225
- 9-Apr (Wed) : $0.225
- 8-Apr (Tue) : $0.225
- 7-Apr (Mon) : $0.22
With today's close of $0.24, tomorrow's Max Buy Price = $0.2405 ie. Will be mostly @ $0.24 if they continue with their Shares Buy Back. Total Shares Buy Back for the 1-year mandate = 3.316% ie. still have lots of leeway to 10% max.
I'll be keeping my fingers crossed as I plan to sell more… Estimated to hit $0.245 Max Buy Price on Wed / Thu if they continue buying.. BUT, they'd previously ever done 1-day of Shares Buy Back and then went MIA for months…. 😀