Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Well, given he low volumes I think it is fair to say most shareholders are staying put, but we don't know whether they are clinging on by their finger nails , remain totally unconcerned or somewhere in between. I think I'm in the last category somewhere north of the midpoint!
Of course the double entendre is if the company don’t do the buyback relatively soon, do we all assume info is coming so therefore pile in ? Or do we all assume that they are waiting for 1p so they can then say we (all us shareholders) have saved £31.63 by waiting and buying at the bottom of the cycle ?
Look I don’t know but what I DO know is it’s coming at some point and as Dontpanick says, I’m clinging on because I’m certain it’s going to turn Nothward instead of the SP consistently turning Southward.
Quite a few comments - mostly not positive - on the issue of the share buy back. It's worth reminding people, I think, that MTR got shareholder approval only last week and is now - I suspect, but I don't know - unable for the moment to kick the buy back process off, as it cannot do so if it's in a closed period. This might be impending news on KML, Cobre, something else. Here's what last week's RNS said. Note the second sentence in particular.
"A further announcement will be made in due course setting out the parameters and mechanics of any share buy-back following the anticipated entering into of a sale facility agreement between the Company and its broker, Arden Partners plc (“Arden”). Shareholders should note that the Company can only enter into a sale facility agreement to effect a share buy-back when it has determined that it is not in possession of price sensitive information or otherwise in a closed period (either being defined as a “Closed Period”). "
It's a weird one this, it seems that on anticipation of good news the sp goes down, actual good news lands, the sp goes down some more, then more anticipated good news and the sp goes further down. It feels like what we need is some really terrible news to pep the sp up a bit.
This does feel like a big tree shake to get rid of all the pi's like me, grimly clinging on by the finger nails. The bod, after all, can't stand the thought that the people that initially funded their beginnings might make some money out of it, so it looks to me like they're very happy for the price to be rock bottom when they buy back so that the microscopic rise that results from said buy back will still leave us plankton out of pocket. Cynical yes, but unfortunately more likely by the day.
No wonder why its dropping like a sharp knife because CEO mentioned that they will buy back in price weakness. So know how weak it's?