HSBC Share buyback progam6 Sep 2016 11:50
Nicked from another HSBC Board :-)
But very interesting for any HSBC Shareholder
IMHO Just wait for news on the Dividend from the United States update amount may be mentioned in next month�s 3rd Quarterly update
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Goldman appear to have slacked off the buyback around the @580p mark, having previously been happy around the @541p mark ...
I see this all the time with buybacks ... the share price starts going up and the purchaser increases their buying. Typically, when the share price drops, the purchaser carries on buying at the same sort of rate as previously, day after day. I will watch the number purchased today with interest.
Successful buybacks tend to depend on aggressive purchasing on share price falls, and not the other way around.
18 Aug = 2,163,157 @ �5.4353
19 Aug = 1,774,619 @ �5.4176
22 Aug = 1,670,237 @ �5.4271
23 Aug = 2,158,718 @ �5.4163
24 Aug = 2,196,956 @ �5.4182
25 Aug = 2,462,519 @ �5.4167
26 Aug = 1,918,363 @ �5.4579
30 Aug = 3,406,568 @ �5.5678
31 Aug = 4,236,584 @ �5.6685
1 Sep = 5,397,828 @ �5.7380
2 Sep = 4,359,599 @ �5.7627
5 Sep = 2,684,847 @ �5.8033
Following the purchase of these shares, the Company holds 49,729,681 of its ordinary shares in treasury and has 19,875,689,287 ordinary shares in issue (excluding treasury shares).
Goldman must be under very strict instructions to match their buying to the appropriate currencies and to create and maintain a large (but not lavish) Scrip Discount next week. So far they have only had to buy 50 million of the circa 330 million they have to play with, in order to do this. They must think that a 10% Scrip Discount is more than enough 'jam' for the shareholders and they can therefore afford to keep most of their powder dry.
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