Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Thanks HU - I am humbly standing on the shoulders of a giant.
Well, the algorithm certainly decided that todays dip was a buying opportunity.....
To achieve a 3.90bn share buy back, the balance of shares need to be bought at an average of 52.926
To achieve a 4.00bn share buy back, the balance of shares need to be bought at an average of 50.887
To achieve a 4.10bn share buy back, the balance of shares need to be bought at an average of 48.999
And just for fun.... To match last years buyback volume, the balance of shares would need to be bought back at an average of 42.274p, which would suggest that the share price is trending it the right direction over the long term. IMHO.
Thanks, as ever, HU.....
A slight recalibration on the 'target range' just for entertainment......
To achieve a 3.90bn share buy back, the balance of shares need to be bought at an average of 52.827
To achieve a 4.00bn share buy back, the balance of shares need to be bought at an average of 50.832
To achieve a 4.10bn share buy back, the balance of shares need to be bought at an average of 48.983
Still some capacity for a significant share cancellation.
To achieve a 3.50bn share buy back, the balance of shares need to be bought at an average of 62.318
To achieve a 3.75bn share buy back, the balance of shares need to be bought at an average of 55.970
To achieve a 4.00bn share buy back, the balance of shares need to be bought at an average of 50.795
Thanks, as always, HU.....
To achieve a 3.50bn share buy back, the balance of shares need to be bought at an average of 62.080
To achieve a 3.75bn share buy back, the balance of shares need to be bought at an average of 55.858
To achieve a 4.00bn share buy back, the balance of shares need to be bought at an average of 50.770
Thanks HU.
To achieve a 3.50bn share buy back, the balance of shares need to be bought at an average of 61.320
To achieve a 3.75bn share buy back, the balance of shares need to be bought at an average of 55.495
To achieve a 4.00bn share buy back, the balance of shares need to be bought at an average of 50.680
As a random thought, with the 4.5m shares cancelled last year, LBG have saved a further £72.459m that would have been paid out in the up coming dividend pay-out had they not been cancelled.
Bertram
Not sure how LTI spent there's, but I spent mine reflecting how happy I am to own an increased share of LBG, without having to buy any new shares or pay any fees, as a result of the subsequent Buyback(s).
BLB
The mis-selling of Mortgages Boat has sailed - it was the Endowment Mortgage 'scandal'
....and shares you held pre ex-div are worth the current price 48.7p + 1.6p (Divi) = 50.3p
You're welcome.
A very smart buy, well below the averages, today; with plenty of capacity to keep buying below the average. It cashed in on the Ex-Div sellers, and appears, in terms of volumes bought, to anticipate upward movement.
To achieve a 3.50bn share buy back, the balance of shares need to be bought at an average of 60.755
To achieve a 3.75bn share buy back, the balance of shares need to be bought at an average of 55.216
To achieve a 4.00bn share buy back, the balance of shares need to be bought at an average of 50.603
Like it or not, Covid changed strategy for just about every businesses - extinguishing some, igniting others. Only in hindsight can we see the real pro's and con's of decisions made.
Fact is, large investors would have been consulted on their thoughts on the post Covid strategy, and have shown confidence in the BOD. As retail investors we know, before we invest, that we are minority (minnow!) investors, and will not get a voice if a decision does not go our way. Nothing is ever certain, until the money is in our accounts. That said, I personally support the eventual buybacks for long term value (which, granted, has yet to fully crystallise).
I believe everyone is telling their truth as far as they recall, interpret and believe it. But an outcome has been reached and that's the end of it. It may suck for some. Yet it reminds me of my divorce settlement. I could either complain about how unfair it was - half of my inheritance gone, half of my share option bonuses gone, half of my pension gone, bla bla - but complaining (my emphasis) would never change anything, and I'd just be bitter. So I accepted it, moved on and found other ways to make the money back. From the Covid low, the FTSE 100 is up over 50% so a little investment there soon replenished the Nuwanda beer fund.
IMHO this thread should end with an agreement that we can't all agree, and we continue our journey on the good ship LBG, with it's rollercoaster of highs and lows, along with the myriad of opinions.
To achieve a 3.50bn share buy back, the balance of shares need to be bought at an average of 60.755
To achieve a 3.75bn share buy back, the balance of shares need to be bought at an average of 55.216
To achieve a 4.00bn share buy back, the balance of shares need to be bought at an average of 50.603
GAZZ.
I totally agree. I wasn't clear; apologies. I meant mainly the BOD where a substantial proportion of their earnings is paid in shares, released over 3 years (I believe). Also PDMR's to keep them focused and loyal (discuss over a bottle of Port).
Employee Share Save Schemes are a no lose for employees - they either get their savings back or exercise their options if profitable. It's also optional to participate.
The buybacks serve, in part, as a virtual hedge against shares issued under remuneration and incentive schemes. Whilst shares are both cancelled and issued, there is a net reduction of shares in issue (in the billions).
I like payment in shares (especially to those to whom it is released over 3 years) as it gives them an incentive (you'd like to think!) to raise the share price to increase their own wealth. IMHO
I'm fascinated by the buying algorithm. It's buying on logical data points, rather than emotion. I wonder how it factors in post ex-div days?
HU - I agree, it will pace itself over the long term and nibble rather than feast. Relatively large movements last year had it pause until it recalibrated to some sort of pattern.
Thanks for your work in pulling this together. I make it:-
To achieve a 3.50bn share buy back, the balance of shares need to be bought at an average of 60.597
To achieve a 3.75bn share buy back, the balance of shares need to be bought at an average of 55.145
To achieve a 4.00bn share buy back, the balance of shares need to be bought at an average of 50.593