GDS.TO Issues a Large Buyback
Posted: Monday Jul 15 5:29:11PM 2013
This under the radar small cap is trading at 60% of NAV, and the company just issued a share buyback-
The buyback is 500k shares, 2.5 times the buyback from the previous year, and "No director or senior officer of Gendis Inc. intends to sell Common shares of Gendis Inc. during the period of this Notice." 1000 shares/ day at the market price. Also seems to be over 10% of the float:
Seems like a large upside catalyst for the company to narrow the gap between fair value and the current price. What do you guys think?