TSX:STB.DB.A - Post by User
Comment by
BlueCollar51on Jun 03, 2015 12:58pm
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Post# 23793609
RE:RE:RE:Company bought back 30,000 shares yesterday
RE:RE:RE:Company bought back 30,000 shares yesterdaypjn0987654321 wrote: Well, they were an "acquisition" under a "purchase"/ownership plan, according to canadianinsider. Sure sounds like something was bought. Are you saying these were an equity issue at market price? And they've taken in money from themselves? If so, how does that work? What's the point?
I could be wrong but I believe that the “company plan” is a DRIP and the shares are new shares issued from the treasury.
As I said buying shares on the public market under an NCIB and not cancelling them seems to defeat the purpose. There may be a valid reason for Student Transportation to own 708,023 shares of themselves but I have no idea what it would be.
I am no longer a shareholder but it might be worthwhile for someone that is to contact Student Transportation’s IR department for an explanation.
As Always; Do Your Own Due Diligence; It’s Your Money !!