Ascendant Share Buyback Program Sept 2016
In a filing with the Bermuda Stock Exchange [BSX], Ascendant Group Limited advised that pursuant to its share repurchase programme, during the month of September 2016 the company repurchased 17,600 common shares at an average price of $6.00. The Company advised the repurchased shares have been reserved for issuance.
I thought they needed that massive rate increase to invest in infrastructure; not to buy back their own shares and improve management bonuses.