“Whilst the company had tried to rectify this with its broker, however, the share buyback had already completed and could not be invalidated. The 100,000 shares bought constituted 0.07% of the company’s total issued share capital of 147,474,784 shares,” says 5E Resources (SGX:NLC
) .
5E Resources says the 100,000 shares it had bought back on Nov 17 had exceeded the 5% cap of the average of the closing market price over the last five consecutive active trading days for such share buybacks of 24.68 cents per share. The difference is 0.57 cents per share or 2.31%.
The buyback on Nov 17 saw the company paying 25.25 cents per share or $25,397.64 in total.
