INNOTEK

More
12 years 4 months ago #8382 by yeng
Replied by yeng on topic Re:INNOTEK
The stock price should firm up in the near term because Innotek has resumed its share buyback yesterday with 449,000 shares bought at 50 cents.

I can see that fr the company  point of view buying the shares at 50 cents makes good money sense, cos that's 10% yield as it is going to pay 5 cents dividend.

Am not sure if it pays itself the dividend or it simply saves on not having to pay out 5 cents dividend. Anyone can clarify? Either way, it makes good sense to do the buyback. There will be more to come --- Innotek has a strong track record of share buybacks.

Please Log in or Create an account to join the conversation.

More
12 years 4 months ago - 12 years 4 months ago #8396 by yeng
Replied by yeng on topic Re:INNOTEK
As expected, Innotek bought back shares again today --- 383,000 to be exact, at 50-51 cents.
Innotek has another 4 million or so shares more to scoop up and then it hits the 10% limit.
What happens after that? Will they get a renewed buyback mandate at the next AGM?


info.sgx.com/webcorannc.nsf/Announcement...033B772?opendocument
Last edit: 12 years 4 months ago by yeng.

Please Log in or Create an account to join the conversation.

More
12 years 4 months ago #8406 by yeng
Replied by yeng on topic Re:Re:INNOTEK
Bought back 100,000 shares at 51.5 cents today.

Please Log in or Create an account to join the conversation.

More
12 years 4 months ago #8413 by pine
Replied by pine on topic Re:INNOTEK
The company bought back 349,000 shares today. However, I am surprised to see it has hit 10.0% limit. Does it mean no more buyback until the mandate is renewed at the next AGM? Any guru can advise? 

Please Log in or Create an account to join the conversation.

More
12 years 4 months ago #8462 by Rich
Replied by Rich on topic Re:INNOTEK
Yes, in the last 3 trading days no more buyback after hitting 10.0% limit. Still the stock is steady at 50.5 cents, despite market weakness today.

Please Log in or Create an account to join the conversation.

More
9 years 11 months ago #20427 by Rich
Replied by Rich on topic INNOTEK
'Unusual' trading in Innotek linked to possible takeover offer
PUBLISHED ON JUL 18, 2014 5:00 PM 0 1 0 0



BY MELISSA TAN
SINGAPORE - Unusual trading activity in the shares of mainboard-listed precision engineering firm Innotek could be linked to a possible takeover of the company.

Innotek told the Singapore Exchange on Friday that it has received a letter from one of its substantial shareholders, Gazelle Capital, in which Gazelle said it was "in discusssions regarding a transaction which may or may not result in an offer for the shares of the company".

Gazelle added in its letter that the "discussions remain very preliminary".

The exchange had sent a query to Innotek on Thursday asking about what it called "unusual volume movements" in Innotek shares that day.

- See more at: www.straitstimes.com/news/business/compa...sthash.VfNKBZis.dpuf

Please Log in or Create an account to join the conversation.

Time to create page: 0.231 seconds
Powered by Kunena Forum
 

We have 1142 guests and no members online

rss_2 NextInsight - Latest News