the Share Purchase Mandate on 22nd July, with their main aims stated:
- Restore investors’ confidence and to protect existing shareholders
- Enhance their NTA, if shares are bought below NTA
- Facilitate the return of surplus cash reserves over and above the Group’s working capital requirements to the Shareholders
- Buffer short-term share price volatility and off-set the effects of short-term share price speculation
The weighted average share price for the buybacks is S$0.186.
Is mgmt signalling the company is undervalued? The highest price they bought back at is S$0.225.
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