Bowleven’s proposed $10m buyback of its shares shows management’s confidence in the value of its asset base and strength of balance sheet. With shares regularly trading near cash levels (and at a material discount to core NAV), the proposed $10m buyback would be accretive for NAV/share while not reducing the company’s cash position materially (given an additional $15m cash injection is expected in September) or limiting its ability to execute on its strategy. We have made a
19 Aug 2016
Buyback demonstrates confidence in asset base
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Buyback demonstrates confidence in asset base
Bowleven plc (BLVN:LON) | 0.2 0 (-9.1%) | Mkt Cap: 3.77m
- Published:
19 Aug 2016 -
Author:
Will Forbes -
Pages:
5
Bowleven’s proposed $10m buyback of its shares shows management’s confidence in the value of its asset base and strength of balance sheet. With shares regularly trading near cash levels (and at a material discount to core NAV), the proposed $10m buyback would be accretive for NAV/share while not reducing the company’s cash position materially (given an additional $15m cash injection is expected in September) or limiting its ability to execute on its strategy. We have made a