In case you were all wondering about the buybacks of CEN.
(ie who are my competitors in the buy/sell market for CEN)
the following from investor relations at CEN.
"Each day we
provide instructions to the broker appointed to undertake the buyback
which are based on their advice to us on the expected performance of the
New Zealand market in that day, and the current share price relative to
the Board's view of the underlying value of the shares. What we
actually end up buying in terms of volume and price depends on the
trading conditions of the day - i.e stock availability and market
prices. The broker also tries to ensure we buy no more than
50% of the total volume traded on a particular day and that the purchases
are at or below the weighted average price on the day. "
See IRG research reports
