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New Buy Back Oct 2019

lse:sle

#21

The buy back is turning out to be a financially futile exercise if it’s objective was to strengthening the share price - yes yes I realise it does reduce dividend payout if and when they are made etc - all we can see at this time is that the cash balance in the company is being reduced but one has to ask for what reason - could it be OF is giving “some” holders, whoever they maybe, the opportunity to cash in some of their holdings even at a substantial loss without the sales completely crashing the share price, now why would he do that?


#22

As I said right at the beginning if it isn’t aggressive, I.e. buying more in value when the price drops - and in that case there should have been bigger buys right at the start, then it probably would be worse than ineffective. My only hope is that there are few shares that people are willing to sell at such a low price and they are slowly being taken up, then the price should start to rise again.

It does reduce shares so the dividend, when declared, goes further but the dividend pool amount will be $2m less, so that really is futile.

Very difficult to know what they are hoping to achieve with such a sedate, predictable buyback. To keep the price higher for a while to stop shareholder’s protesting? Seems doubtful, they’ve never really been concerned about that previously.


#23

Date ++ Shares ++ Price ++ Total. Running Total*
18 Oct . 94,482 @26.46p £25,250 $32,572
21 Oct . 29,000 @27.91p .£8,174 $43,199
22 Oct. 89,285 @28.00p £25,250 $75,771
23 Oct. 89,285 @28.00p £25,250 $108,283
24 Oct. 88,192 @28.35p £25,252 $‭140,859
25 Oct. --------- @-------- £--------- $140,859
28 Oct. 87,719 @28.50p £25,250 $173,178
29 Oct. 87,719 @28.50p £25,250 $205,750 10% completed
30 Oct. 87,719 @28.50p £25,250 $‭238,322
31 Oct. 87,719 @28.50p £25,250 $270,895
01 Nov. 88,967 @28.10p £25,250 $303,467
04 Nov. 89,285 @28.00p £25,250 $336,040
05 Nov. 92,165 @27.125p £25,250 £368,612

Dreadful. After a steep rise in the oil price too.

Total number of Ordinary Shares in issue with voting rights now 454,610,590

*Approx Running total in US Dollars inc. 1% stamp duty Fx rate taken from US close and rounded to the nearest cent.


#24

Date ++ Shares ++ Price ++ Total. Running Total*
18 Oct . 94,482 @26.46p £25,250 $32,572
21 Oct . 29,000 @27.91p .£8,174 $43,199
22 Oct. 89,285 @28.00p £25,250 $75,771
23 Oct. 89,285 @28.00p £25,250 $108,283
24 Oct. 88,192 @28.35p £25,252 $‭140,859
25 Oct. --------- @-------- £--------- $140,859
28 Oct. 87,719 @28.50p £25,250 $173,178
29 Oct. 87,719 @28.50p £25,250 $205,750 10% completed
30 Oct. 87,719 @28.50p £25,250 $‭238,322
31 Oct. 87,719 @28.50p £25,250 $270,895
01 Nov. 88,967 @28.10p £25,250 $303,467
04 Nov. 89,285 @28.00p £25,250 $336,040
05 Nov. 92,165 @27.125p £25,250 $368,612
06 Nov. 92,592 @27.00p £25,250 $401,184 20% Completed

20% of the buyback clearly hasn’t got rid of all sellers at this level. Just about back to where we started now. Why not spend some extra at these prices??

Total number of Ordinary Shares in issue with voting rights now 454,517,998

*Approx Running total in US Dollars inc. 1% stamp duty Fx rate taken from US close and rounded to the nearest cent.


#25

Date ++ Shares ++ Price ++ Total. Running Total*
18 Oct . 94,482 @26.46p £25,250 $32,572
21 Oct . 29,000 @27.91p .£8,174 $43,199
22 Oct. 89,285 @28.00p £25,250 $75,771
23 Oct. 89,285 @28.00p £25,250 $108,283
24 Oct. 88,192 @28.35p £25,252 $‭140,859
25 Oct. --------- @-------- £--------- $140,859
28 Oct. 87,719 @28.50p £25,250 $173,178
29 Oct. 87,719 @28.50p £25,250 $205,750 10% completed
30 Oct. 87,719 @28.50p £25,250 $‭238,322
31 Oct. 87,719 @28.50p £25,250 $270,895
01 Nov. 88,967 @28.10p £25,250 $303,467
04 Nov. 89,285 @28.00p £25,250 $336,040
05 Nov. 92,165 @27.125p £25,250 $368,612
06 Nov. 92,592 @27.00p £25,250 $401,184 20% Completed
07 Nov. 90,909 @27.50p £25,250 $433,504

Total number of Ordinary Shares in issue with voting rights now 454,427,089

*Approx Running total in US Dollars inc. 1% stamp duty Fx rate taken from US close and rounded to the nearest cent.


#26

Date ++ Shares ++ Price ++ Total. Running Total*
18 Oct . 94,482 @26.46p £25,250 $32,572
21 Oct . 29,000 @27.91p .£8,174 $43,199
22 Oct. 89,285 @28.00p £25,250 $75,771
23 Oct. 89,285 @28.00p £25,250 $108,283
24 Oct. 88,192 @28.35p £25,252 $‭140,859
25 Oct. --------- @-------- £--------- $140,859
28 Oct. 87,719 @28.50p £25,250 $173,178
29 Oct. 87,719 @28.50p £25,250 $205,750 10% completed
30 Oct. 87,719 @28.50p £25,250 $‭238,322
31 Oct. 87,719 @28.50p £25,250 $270,895
01 Nov. 88,967 @28.10p £25,250 $303,467
04 Nov. 89,285 @28.00p £25,250 $336,040
05 Nov. 92,165 @27.125p £25,250 $368,612
06 Nov. 92,592 @27.00p £25,250 $401,184 20% Completed
07 Nov. 90,909 @27.50p £25,250 $433,504
08. Nov. 91,274 @27.39p £25,250 $‭465,824‬ **

** To be confirmed in Monday’s 7am RNS

Total number of Ordinary Shares in issue with voting rights now 454,335,815

*Approx Running total in US Dollars inc. 1% stamp duty Fx rate taken from US close and rounded to the nearest cent.


#27

Date ++ Shares ++ Price ++ Total. Running Total*
18 Oct . 94,482 @26.46p £25,250 $32,572
21 Oct . 29,000 @27.91p .£8,174 $43,199
22 Oct. 89,285 @28.00p £25,250 $75,771
23 Oct. 89,285 @28.00p £25,250 $108,283
24 Oct. 88,192 @28.35p £25,252 $‭140,859
25 Oct. --------- @-------- £--------- $140,859
28 Oct. 87,719 @28.50p £25,250 $173,178
29 Oct. 87,719 @28.50p £25,250 $205,750 10% completed
30 Oct. 87,719 @28.50p £25,250 $‭238,322
31 Oct. 87,719 @28.50p £25,250 $270,895
01 Nov. 88,967 @28.10p £25,250 $303,467
04 Nov. 89,285 @28.00p £25,250 $336,040
05 Nov. 92,165 @27.125p £25,250 $368,612
06 Nov. 92,592 @27.00p £25,250 $401,184 20% Completed
07 Nov. 90,909 @27.50p £25,250 $433,504
08. Nov. 91,274 @27.39p £25,250 $‭465,824
11. Nov. 91,274 @27.39p £25,250 $‭498,144 25% Completed

Total number of Ordinary Shares in issue with voting rights now 454,244,541

*Approx Running total in US Dollars inc. 1% stamp duty Fx rate taken from US close and rounded to the nearest cent.


#28

Date ++ Shares ++ Price ++ Total. Running Total*
18 Oct . 94,482 @26.46p £25,250 $32,572
21 Oct . 29,000 @27.91p .£8,174 $43,199
22 Oct. 89,285 @28.00p £25,250 $75,771
23 Oct. 89,285 @28.00p £25,250 $108,283
24 Oct. 88,192 @28.35p £25,252 $‭140,859
25 Oct. --------- @-------- £--------- $140,859
28 Oct. 87,719 @28.50p £25,250 $173,178
29 Oct. 87,719 @28.50p £25,250 $205,750 10% completed
30 Oct. 87,719 @28.50p £25,250 $‭238,322
31 Oct. 87,719 @28.50p £25,250 $270,895
01 Nov. 88,967 @28.10p £25,250 $303,467
04 Nov. 89,285 @28.00p £25,250 $336,040
05 Nov. 92,165 @27.125p £25,250 $368,612
06 Nov. 92,592 @27.00p £25,250 $401,184 20% Completed
07 Nov. 90,909 @27.50p £25,250 $433,504
08. Nov. 91,274 @27.39p £25,250 $‭465,824
11. Nov. 91,274 @27.39p £25,250 $‭498,144 25% Completed
12. Nov. 91,274 @27.39p £25,250 $530,464

Total number of Ordinary Shares in issue with voting rights now 454,153,267

*Approx Running total in US Dollars inc. 1% stamp duty Fx rate taken from US close and rounded to the nearest cent.


#29

Date ++ Shares ++ Price ++ Total. Running Total*
18 Oct . 94,482 -26.46p £25,250 $32,572
21 Oct . 29,000 -27.91p .£8,174 $43,199
22 Oct. 89,285 -28.00p £25,250 $75,771
23 Oct. 89,285 -28.00p £25,250 $108,283
24 Oct. 88,192 -28.35p £25,252 $‭140,859
25 Oct. --------- --------- £--------- $140,859
28 Oct. 87,719 -28.50p £25,250 $173,178
29 Oct. 87,719 -28.50p £25,250 $205,750 10% completed
30 Oct. 87,719 -28.50p £25,250 $‭238,322
31 Oct. 87,719 -28.50p £25,250 $270,895
01 Nov. 88,967 -28.10p £25,250 $303,467
04 Nov. 89,285 -28.00p £25,250 $336,040
05 Nov. 92,165 -27.125p £25,250 $368,612
06 Nov. 92,592 -27.00p £25,250 $401,184 20% Completed
07 Nov. 90,909 -27.50p £25,250 $433,504
08. Nov. 91,274 -27.39p £25,250 $‭465,824
11. Nov. 91,274 -27.39p £25,250 $‭498,144 25% Completed
12. Nov. 91,274 -27.39p £25,250 $530,464
13. Nov. 91,575, @27.30p £25,250 $‭562,784‬

Total number of Ordinary Shares in issue with voting rights now 454,061,692

*Approx Running total in US Dollars inc. 1% stamp duty Fx rate taken from US close and rounded to the nearest cent.


#30

Date ++ Shares ++ Price ++ Total. Running Total*
18 Oct . 94,482 -26.46p £25,250 $32,572
21 Oct . 29,000 -27.91p .£8,174 $43,199
22 Oct. 89,285 -28.00p £25,250 $75,771
23 Oct. 89,285 -28.00p £25,250 $108,283
24 Oct. 88,192 -28.35p £25,252 $‭140,859
25 Oct. --------- --------- £--------- $140,859
28 Oct. 87,719 -28.50p £25,250 $173,178
29 Oct. 87,719 -28.50p £25,250 $205,750 10% completed
30 Oct. 87,719 -28.50p £25,250 $‭238,322
31 Oct. 87,719 -28.50p £25,250 $270,895
01 Nov. 88,967 -28.10p £25,250 $303,467
04 Nov. 89,285 -28.00p £25,250 $336,040
05 Nov. 92,165 -27.125p £25,250 $368,612
06 Nov. 92,592 -27.00p £25,250 $401,184 20% Completed
07 Nov. 90,909 -27.50p £25,250 $433,504
08. Nov. 91,274 -27.39p £25,250 $‭465,824
11. Nov. 91,274 -27.39p £25,250 $‭498,144 25% Completed
12. Nov. 91,274 -27.39p £25,250 $530,464
13. Nov. 91,575, @27.30p £25,250 $‭562,784
14. Nov. 93,283 @26.30p £25,250 $595,104 30% completed

Total number of Ordinary Shares in issue with voting rights now 4‭53,968,409‬

*Approx Running total in US Dollars inc. 1% stamp duty Fx rate taken from US close and rounded to the nearest cent.


#31

Date ++ Shares ++ Price ++ Total. Running Total*
18 Oct . 94,482 -26.46p £25,250 $32,572
21 Oct . 29,000 -27.91p .£8,174 $43,199
22 Oct. 89,285 -28.00p £25,250 $75,771
23 Oct. 89,285 -28.00p £25,250 $108,283
24 Oct. 88,192 -28.35p £25,252 $‭140,859
25 Oct. --------- --------- £--------- $140,859
28 Oct. 87,719 -28.50p £25,250 $173,178
29 Oct. 87,719 -28.50p £25,250 $205,750 10% completed
30 Oct. 87,719 -28.50p £25,250 $‭238,322
31 Oct. 87,719 -28.50p £25,250 $270,895
01 Nov. 88,967 -28.10p £25,250 $303,467
04 Nov. 89,285 -28.00p £25,250 $336,040
05 Nov. 92,165 -27.125p £25,250 $368,612
06 Nov. 92,592 -27.00p £25,250 $401,184 20% Completed
07 Nov. 90,909 -27.50p £25,250 $433,504
08. Nov. 91,274 -27.39p £25,250 $‭465,824
11. Nov. 91,274 -27.39p £25,250 $‭498,144 25% Completed
12. Nov. 91,274 -27.39p £25,250 $530,464
13. Nov. 91,575, @27.30p £25,250 $‭562,784
14. Nov. 93,283 @26.30p £25,250 $595,104 30% completed
15. Nov. 92,250 @27.10p £25,250 $627,677**

** To be confirmed 7am Monday RNS

Total number of Ordinary Shares in issue with voting rights now 4‭53,876,159

*Approx Running total in US Dollars inc. 1% stamp duty Fx rate taken from US close and rounded to the nearest cent.