RE:NCIB is a no-brainerd_trump wrote: There is no question they should be buying shares at these prices - it's called financial engineering. HOWEVER, they should also cancel the DRIP when the share price is so low. I would curious to see how many shares they are issuing under the DRIP and how that compares to the NCIB purchases. It could be a wash, in which that is silly......
In Q1 2016 financials they state that 492,040 DRIP shares were issued.
(That would include the 356,141 shares issued to SNCF reported to SEDI). 140,067 shares were purchased on the NCIB.
It’s a bit difficult to estimate the Q2 DRIP shares. They have reported to SEDI that on Oct 15 83,640 shares were issued to SNCF but to date nothing for November. Due to the fact that they have gone to great lengths to “advertise” the “token insider” and NCIB purchases up to and including Dec 07 its odd that an SNCF transaction for November hasn’t been reported if there was one.
As well as the Safe Stop app. They also offer “Management Services” to some School districts. When they first announced that back in 2011 or 2012
(I have forgotten exactly when) they proudly announced that it would enable them to “Grow Without Dilution”. To date there is no evidence of “Growth Without Dilution”.
If you think about it Student Transportation is an “Asset Lite” business. Other than some Oil and Gas assets that aren’t worth much these days and some Real-estate
(I believe that they own some of their facilities and lease some) all they actually have for tangible assets are Busses that are all worn out to some degree. After abt. 12 years they aren’t worth much.
As Always; Do Your Own Due Diligence; It’s Your Money !!