Forum Archive Index - June 2000

["Michael Gore" <michgore@paradise.net.nz>]

Roy,   What then is your opinion about movement of CEN's share price in the short term?  If there are still small retail investors left holding then the price may not go above $3.10 for awhile as disillusioned punters can at least recover their money.  I remember reading somewhere when the price was in the $2.50's that the total number of shareholders had reduced by I think about 15000 (my memory may be way off)  so maybe there are not too many left who are thinking to get out.  Then again who's to say the price won't drop to $3.40 again it didn't make any sense when it dropped a few months back so why not again.  Or is it the daily price fluctuations that you are concerned with?  There seems to be more daily price fluctuation on this share lately than I have noticed before.   michael

 

 

 

 --- Original Message -----

From: Roy

To: sharechat@sharechat.co.nz

Sent: Wednesday, June 21, 2000 1:50 PM

Subject: Re: Re: [sharechat] The Zen game continues.

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. "

Cheers