Creative Labs (CREAF) Message Board

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Technology Stocks : Creative Labs (CREAF)

CREAF 0.470

0.0%

Dec 5 9:30 AM EST

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To: BZOOKA who wrote (12225)	9/5/1998 1:39:00 AM
From: Richard Haugland	Read Replies (1) of 13925

Go-ahead for share buybacks coming soon business-times.asia1.com.sg Some significant new news. Article also mentions CREAF. A company shall not buy back its own shares on a stock exchange unless authorised by a general meeting of the company. In seeking authorisation, the company must, among other things, specify the maximum number or percentage of shares to be bought, the maximum price which may be paid, and the sources of funds to be used in the buyback. A company, whether or not listed on a stock exchange, may also buy back shares off the market if it complies with an equal access scheme authorised by the company in a general meeting. Such a scheme must meet the following conditions: The offer must be made to everyone holding shares to buy back the same percentage of shares; All these shareholders must have a reasonable opportunity to accept the offer; The terms of the offer must be the same for all. Seems like some provisions will delay implementation of the buyback. Also of significance is listing the maximum price that would be paid for the stock. I also bought 4k more today, first at 9 5/16 then at 9 1/8. It gapped past my 9 5/16 bid at the open but then dropped right through it on the way down. I think this will be quite good soon (already making money today but it hardly balances the past losses on CREAF!) So far seems to be good support at $9 (12 month low = 8 7/8). Of course having a P/E of 6.23 and the top 5 selling products should give it some resistance to a further drop.

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