Wednesday, June 16, 2010

Best World share buyback

Best World International today announced that it has bought back 131,000 shares at $0.335 per share, for a total consideration of $43,977.75. This is not a huge sum (relative to its cash position of $39.56 million, or $0.1918 per share!), but the buyback dominated the daily trading volume of 299,000 shares, making up 43.8% of total traded shares. Liquidity for the stock is relatively poor, possibly a key factor preventing institutional investors from considering the stock as a potential investment.

In a second announcement today, the company also announced that it has received in-principle approval for the proposed listing of bonus warrants and shares. Further details on the issue will be given at a later date.

1 comment:

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