Altin has announced an equity buyback of five to ten per cent of its own stock in order to address the issue of its market price discount.
Altin has announced an equity buyback of five to ten per cent of its own stock in order to address the issue of its market price discount.
Announcing its annual results for 2008, Altin says its management performance was predictably negative (-29.20 per cent), yet considerably superior to all key stock market indices.
Furthermore, since the beginning of 2009, Altin’s performance is positive (+1.88 per cent), despite a marked correction in equity markets.
Altin’s portfolio is devoid of leverage and is currently 22 per cent invested in cash, enabling it to take advantage of the numerous investment opportunities that have arisen of late.
In order to address the issue of its market price discount, the annual general meeting has empowered the board of directors to reduce the capital of Altin by buying back five to ten per cent of its own stock.
