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40% of the £20 million already spent
I'm wondering whether the buybacks are of shares being sold by a large holder who wants to unload.
Thanks
Last year Uncle Doug it was supposed to be 30th March, but of course the auditors unavailability pushed it back, so I was working on that basis. As we know there is nothing certain in this game, but £4 looks likely in the very near future given how much the price is moving up already with the buybacks made. I've never been a great fan of buybacks as I've seen in other companies money just wasted doing it and share price going south, but with the last buyback programme Mears look like they played a clever game, and this one looks strategic as well in getting it done in quick time before the results.
Alan, you make some good points there. BTW - do you have an exact (or rough) date for Results Update?
So far they're buying back a lot stronger than I was expecting ; as you say at this rate could be all over in a few weeks.
Given how much they spent on the first day of the buyback this could be all done and dusted by the time of the results
Another £20 million buyback announced. This is arguably a huge buy signal, as they could have waited for the final results at the end of March to announce this, but going early likely means they can buy cheaper than after the results, and they will not be paying a dividend on however many they are able to buyback before the shares go ex dividend, so will be saving a large amount.
Liked the numbers in the Interim update and all that is going on @ Mears and probably have them as likely takeover candidates for Home Group when it has transformed itself out of all its poorly looked after and poorly managed properties and got itself relisted. Memory serves me right they have already picked up a slice of the portfolio of properties on the cheap.
Doug, you should really have waited for the Scotland announcement
Looking back on my August 2023 post, that's now ten good updates in a row. SP is still well under fair value. Expect another nice rise in dividend this year. North Lanarkshire contract should be announced fairly soon and that will boost SP even more. Having said that, I've banked some profits and sold 1/3 of my holding @343p. I'll let the other 2/3rds run for a while longer. Thank God I didn't take DayTroll's advice to sell @152p. Liontrust were a bit stupid to dump these last year @219ish ... sometimes you just need a little patience.
We'll be touching £4 if the Scotland contract gets announced which is due this month...BOOM TIME
I reviewed my older post of 13/12/23, and my advice regarding the doji candlestick low of 289.5, as a stop level , was correct. Unfortunately my advice to sell, was incorrect, but anyone who took the stop level advice, would have benefited from the subsequent equity price rise. I am as keen as anyone, to learn from what my comment of 13/12/23, to hopefully perfect.
Symmetry theory provides a sp, target of 349.5, using the previous major rally, from the beginning of the current major rally . MER, is the leading equity in the sector today, and the sector chart, shows the least line of resistance, is up.
So there it is, very strong performance, and they clearly wanted to get the buyback out of the way at lower prices.
💥 Boom 💥
Send in the 🤡 DayTroll
They are close now to spending the £15 million in this round of buybacks, so this will have been done in half the time they originally anticipated. Getting it done before the trading update, so potentially a positive sign.
Getting angry Noclue? no need to shout old boy.
Although i do get that your embarrassed at your "i did brilliant here holding for years and years after paying almost the current sp then watching it crater" nonsense being torn to shreds with such ease.
Its why you have no sensible answer and just try to deflect.
Clear as a glass window you, im afraid.
THE ONLY FACT YOU NEED TO KNOW :
Since your SELL rec @152p they have risen 100%. 👍🤡😂🎈🎊🤪
LOL seems you agree with my very post on the matter, different company but exactly my point repeated by you as the 'new gospel'
At least your learning, slowly i must say, but learning.
What a clown. Have a day off the trolling and Be honest for once Noclue.
"Uncle_Doug
Posts: 2,620
Price: 0.00
No Opinion
RE: WD NO 1 LCCToday 18:18
If RYA gets to SP of 19.3 € as it did in August 2017 that would be something, although allowing for SEVEN years of inflation and missed opportunities elsewhere not really a very good investment"
Keep trying to defend the indefensible.
You said "time to get out of here while still worth something" when SP of MER was 152p.
You did not say should have sold before they dropped like a rock.
Since your SELL rec @152p they have risen 100%.
Look in the mirror - you are the simpleton, as you keep proving.
What a 🤡!
PS Nice try your deflecting from the matter in hand with talk of BOO board, where you got a record 32 upticks for somebody calling you a nasty piece of work. This is the MER discussion board.
Crikey i didnt think it was possible to find such a simpleton, i need to reconsider that assumption.
You should have sold before they dropped like a rock. You clearly prefer to hold onto stock all the way down - you did it with BOO too, paying £3.78 for £8ks worth (as per your own post) then held all the way down to 27 PENCE. Tying capital up that could wotj harder for you for FIVE LONG YEARS is just plain silly.
And then to claim a "100% gain", when you paid £2.74 (as you again posted) for your shares is unreal.
As i have stated already, you held here for years and years and years and have made the sum of ZERO when inflation is taken into account as well.
You BOO "expertise" is even worse.
I wont mention you saying RYa would be bankrupt in 2020. Not far off my 20€ now is it?
So by your logic I should have sold as per your recommendation at 152p and missed out on 100% gain ? Hmm 🤔
Errrr.. . . . . no you didnt actually.
You bought in FIVE years ago, and paid far to much, and HELD while covid decimated the sp.
Those are FACTS all visible on here.
It has only just recently got back to above your POSTED buyin price.
Factoring in inflation and missed opportunity YOU made poor choices.
And any rise in sp from your £2.74 buyin are wiped out. Its an undeniable FACT.
1. buying in at far to high a price initially.
2. Holding on (as you always seem to - look at BOO) as the sp plunged.
3. missed opportunity elsewhere by not reevaluating your mistakes and moving capital.
The ideas to make money, not overpay, tie the cash up whilst its reducing by inflation and missed opportunity.
And you think you got it right?
Says it all really.
I always said MER would come back from those COVID lows and I was right. 100% right. You said SELL and were clearly wrong. Your deramping narrative here has probably cost some poor souls to miss out. You really should apologise. Just admit it you got MER totally wrong.
LoL. From the guy who said "time to get out of here while still worth something" when they were at 152p. What a 🤡!
You really should apologise ... and get a life.