GREY:PCCLF - Post by User
Comment by
matisse2003on Dec 10, 2008 10:53am
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Post# 15637121
RE: Anyone? Reverse Split?
RE: Anyone? Reverse Split?A company can either buy back their shares for investment purposes or retire them. By stating that the company wants to reduce their share capital it means that they intend to retire the shares not hold them for resale later on.
The issuer bid is something which should definitely be supported. The shares are dramatically undervalued at anything under 80 cents given current market conditions.
A rollback would also be good and as we will need to raise a large amount of capital down the road and the float is already quite large. 2.5 shares for one would give us a magic $1 of cash per share with no debt or cap ex obligations.