OREANDA-NEWS. Singapore Exchange, SGX. Share buybacks are a simple strategy that sees a share issuer repurchases some of its outstanding shares from shareholders through open market transactions. Once shares are bought back they will be converted into treasury shares which means that are no longer categorised as shares outstanding. Motivations for share buy-backs include companies seeing stock valuations aligned with balance sheet objectives or employee compensation changes.

Share buy-back information can be found on the company disclosure page on the SGX website using the Announcement category and sub category of Share Buy Back-On Market.

For the third week of the month from 16 to 20 February, there were a total of 11,228,300 shares repurchased by seven stocks with a total consideration of S\$10.1 million. This is an increase from the third week of February last year, which saw a total of 3,477,522 shares repurchased by nine stocks with a total consideration of S\$5.3 million. The five stocks with the largest consideration amount in buybacks were Oversea-Chinese Banking Corporation, Singapore Press Holdings, Sembcorp Marine, Pacific Century Regional Developments, and Goodland Group.

The table below details the specifics of the buybacks of these seven stocks. The table is sorted by the total consideration amount from 16 to 20 February which collates the amount of shares purchased and the purchasing price of the shares. The date of the relevant share buyback mandate is also provided in addition to the amount of shares authorized to be bought back under the mandate. The total number of shares purchased under the mandate and the percentage of the companies issued shares that have been repurchased under the mandate are also provided.

Name Start Date Mandate Total no of shares purchased: 16-20 Feb Total Consideration: 16-20 Feb S\$ Cum no of shares purchased to date Percent*
OVERSEA-CHINESE BANKING CORPORATION 24/04/2014 171,866,257 300,000 3,120,578.45 15,236,500 0.44
SINGAPORE PRESS HOLDINGS 02/12/2014 159,988,429 500,000 2,041,527.96 2,750,000 0.17
SEMBCORP MARINE 18/02/2015 208,932,201 626,300 1,893,702.79 1,026,300 0.05
PACIFIC CENTURY REGIONAL DEVELOPMENTS 28/04/2014 304,319,210 5,000,000 1,481,695.25 296,525,000 9.74
GOODLAND GROUP 29/01/2015 33,645,984 2,563,000 707,297.87 4,413,000 1.31
RAFFLES EDUCATION CORPORATION 27/10/2014 101,620,523 1,488,000 500,198.98 10,298,000 1.01
COURTS ASIA 30/07/2014 55,573,910 751,000 338,457.86 15,557,200 2.80

Source: SGX *percentage of company’s issued shares excluding treasury shares as at the date of the share buy-back resolution

Oversea-Chinese Banking Corporation

On 24 April 2014, a share buy-back resolution was passed for Oversea-Chinese Banking Corporation. Between 16 and 20 February, Oversea-Chinese Banking Corporation repurchased a total number of 300,000 shares with a total consideration of S\$3,120,578.45.

The maximum number of shares authorized for the buy-back transaction was 171,866,257. As of end of last week, by way of acquisition, Oversea-Chinese Banking Corporation had purchased a cumulative amount of 15,236,500 shares under the 24 April resolution. This represented 0.44% of the company’s issued shares (excluding treasury shares) as at the date of the share buy-back resolution.

As of 17 February 2015, the number of issued shares excluding treasury shares stood at 3,983,443,970 and the number of treasury shares held after purchase stood at 9,485,349.

Singapore Press Holdings

On 2 December 2014, a share buy-back resolution was passed for Singapore Press Holdings. Between 16 and 20 February, Singapore Press Holdings repurchased a total number of 500,000 shares with a total consideration of S\$2,041,527.96.

The maximum number of shares authorized for the buy-back transaction was 159,988,429. As of end of last week, by way of acquisition, Singapore Press Holdings had purchased a cumulative amount of 2,750,000 shares under the 2 December resolution. This represented 0.17% of the company’s issued shares (excluding treasury shares) as at the date of the share buy-back resolution.

As of 16 February 2015, the number of issued shares excluding treasury shares stood at 1,598,978,551 and the number of treasury shares held after purchase stood at 1,670,570.

Sembcorp Marine

On 18 February 2015, a share buy-back resolution was passed for Sembcorp Marine. Between 16 and 20 February, Sembcorp Marine repurchased a total number of 626,300 shares with a total consideration of S\$1,893,702.79.

The maximum number of shares authorized for the buy-back transaction was 208,932,201. As of end of last week, by way of acquisition, Sembcorp Marine had purchased a cumulative amount of 1,026,300 shares under the 18 February resolution. This represented 0.05% of the company’s issued shares (excluding treasury shares) as at the date of the share buy-back resolution.

As of 18 February 2015, the number of issued shares excluding treasury shares stood at 2,088,726,094 and the number of treasury shares held after purchase stood at 1,034,013.

Pacific Century Regional Developments

On 28 April 2014, a share buy-back resolution was passed for Pacific Century Regional Developments. Between 16 and 20 February, Pacific Century Regional Developments repurchased a total number of 5,000,000 shares with a total consideration of S\$1,481,695.25.

The maximum number of shares authorized for the buy-back transaction was 304,319,210. As of end of last week, by way of acquisition, Pacific Century Regional Developments had purchased a cumulative amount of 296,525,000 shares under the 28 April resolution. This represented 9.74% of the company’s issued shares (excluding treasury shares) as at the date of the share buy-back resolution.

As of 18 February 2015, the number of issued shares excluding treasury shares stood at 2,746,667,100.

Goodland Group

On 29 January 2015, a share buy-back resolution was passed for Goodland Group. Between 16 and 20 February, Goodland Group repurchased a total number of 2,563,000 shares with a total consideration of S\$707,297.87.

The maximum number of shares authorized for the buy-back transaction was 33,645,984. As of end of last week, by way of acquisition, Goodland Group had purchased a cumulative amount of 4,413,000 shares under the 29 January resolution. This represented 1.31% of the company’s issued shares (excluding treasury shares) as at the date of the share buy-back resolution.

As of 17 February 2015, the number of issued shares excluding treasury shares stood at 332,106,842 and the number of treasury shares held after purchase stood at 4,413,000.