Forum Archive Index - July 2001

[kh <kh@caverock.net.nz>]

Before buyback
NTA about= $1.00
Total shares 352867035
Total assets about $350000000

After buyback
They buyback $60M worth of shares
that leaves about $290M of assets

now if they buyback shares at 75 cents
that equals 80M shares so therefore about 270M shares are left.
NTA about = $1.07

if the average cost per share is 100 cents
that equals 60M shares so therefore about 290M shares are left.
NTA about = $1.00

If the average buyback price is between 75 and 100 cents 
then the new nta will be between 100 and 107 cents

Only shares bought for less than the nta will increase nta per share.
This of course leaves out effects of demand for less shares.


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