company share buy backs.help please

[GARREI]

can someone advise me if there is anyway of knowing how much a company will buy back of its own shares? I have recently sold short geest, and it now appears they are on a bit of a buy back mission. i would have thought that they should have to state somewhere that they are going to buy back there shares and how many??????????????????

 

[LION63]

You should find the information in their last accounts and annual report. The alternative would be to check a site like ADVFN (you will need to enter the ticker symbol and then check recent news announcements). The company concerned would usually state how many shares they intend to buy; the maximum price and when they are likely to commence the buy back.

Unfortunately, all short sellers get caught by buy backs at one time or the other and there is no sure way to guard against it.

 

[GARREI]

thank you for your response lion 63

i see in the accts that geest are proposing UP to 10% of outstanding shares, what ever that means as it is an extremely wide target!

i also believe from an article in the weekends Times that companies only have to make a formal price offer if the proposed buyout level is greater than 15%???????

thanks again

 

[LION63]

Garrei

It is very easy to work out the maximum number of shares that Geest can buy back. Simply check the number of ordinary shares outstanding and divide that by 10. You will find this figure in the accounts and report or on ADVFN.