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Pin to quick picksCopper Development Corporation Share News (CDC)

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Copper Development Corp soars on offer to buy back all shares

Wed, 30th Oct 2013 13:39

Shares in AIM miner Copper Development Corporation leapt as the company proposed a tender offer to buy back some or all of its shares. CDC offered shareholders the opportunity "if they so wish" to sell back some or all of their shares to the company at a price of 3.79p per share, which was a premium to the share price for most of the last year.The Philippines-focused company said proposed the offer as it had a $14.3m cash balance, as of October 28th, but had been "unable to realise any value from its existing assets".Shares in CDC were up 54% to 3.58p at 13:40 on Wednesday, valuing its the entire share capital at £8.24m ($13.2m).OH
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