OREANDA-NEWS. April 14, 2015. Share buyback is a simple strategy where a share issuer repurchases some of its outstanding shares from shareholders through open market transactions. Once the shares are bought back, they will be converted into treasury shares, which means they are no longer categorised as shares outstanding. Motivations for share buybacks include companies trying to align stock valuations with balance sheet objectives or employee compensation changes.

Share buyback 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 second week of the month (6 to 10 April), there were a total of 51,898,423 shares repurchased by 15 stocks,  with a total consideration of S\\$ 29.2 million. This was an increase from the second week of April last year, which saw a total of 6,504,000 shares purchased by five stocks with a total consideration of S\\$ 24.7 million.

In the month to date, there were a total of 55,342,378 shares repurchased by 16 stocks, with a total consideration of S\\$ 36.3 million. This is down from a consideration of S\\$ 48.3 million in the first two weeks of April last year.

The five stocks with the largest consideration in buybacks last week were Golden Agri-Resources, Oversea-Chinese Banking Corporation, OSIM International, United Overseas Bank and USP Group.

The table below provides specific details of the largest consideration in buybacks for last week. The table is sorted by the total consideration amount from 6 to 10 April 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 authorised to be bought back under the mandate. The total number of shares purchased under the mandate and the percentage of the companies that issued shares which have been repurchased under the mandate are also provided.
 

Name Start Date Mandate Total no of shares purchased: 6-10 Apr Total Consideration: 6-10 Apr S\\$ Cum no of shares purchased to date Percent*
GOLDEN AGRI-RESOURCES 25/04/2014 1,283,754,855 34,570,000 15,034,976.93 102,792,400 0.80
OVERSEA-CHINESE BANKING CORPORATION 24/04/2014 171,866,257 600,000 6,388,216.60 19,266,500 0.56
OSIM INTERNATIONAL 31/03/2015 77,915,153 1,977,000 3,703,698.85 1,977,000 0.26
UNITED OVERSEAS BANK 24/04/2014 78,848,717 108,623 2,534,909.71 765,240 0.05
USP GROUP 27/02/2015 67,012,023 11,655,900 907,268.10 28,957,300 4.32
FSL TRUST MANAGEMENT 30/04/2014 65,466,507 1,667,400 241,960.81 1,667,400 0.25
POH TIONG CHOON LOGISTICS 30/04/2014 21,501,800 153,800 100,016.67 770,800 0.36
SATS 23/07/2014 22,448,073 25,000 77,591.22 19,271,700 1.72
GLOBAL PALM RESOURCES HOLDINGS 23/04/2014 41,296,800 227,900 44,158.99 4,695,500 1.14
GP INDUSTRIES 30/07/2014 49,629,448 62,700 43,157.66 9,138,900 1.84
COURTS ASIA 30/07/2014 55,573,910 81,000 35,644.63 18,093,200 3.26
A-SONIC AEROSPACE 26/01/2015 71,590,363 499,300 32,352.01 825,600 0.12
POWERMATIC DATA SYSTEMS 25/07/2014 17,400,400 146,000 26,482.15 895,900 0.51
PACIFIC CENTURY REGIONAL DEVELOPMENTS 28/04/2014 304,319,210 50,000 16,092.46 303,932,200 9.99
CHOSEN HOLDINGS 28/10/2014 28,391,842 73,800 11,532.54 1,431,500 0.50

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

Golden Agri-Resources              

On 25 April 2014, a share buyback resolution was passed for Golden Agri-Resources. Between 6 and 10 April, Golden Agri-Resources repurchased a total number of 34,570,000 shares with a total consideration of S\\$ 15,034,976.93.

The maximum number of shares authorised for the buyback transaction was 1,283,754,855. As of end of last week, by way of acquisition, Golden Agri-Resources had purchased a cumulative amount of 102,792,400 shares under the 25 April 2014 resolution. This represented 0.80% of the company's issued shares (excluding treasury shares) as at the date of the share buyback resolution.

As of 7 April 2015, the number of issued shares excluding treasury shares stood at 12,734,756,156 and the number of treasury shares held after purchase stood at 102,792,400.

Oversea-Chinese Banking Corporation

On 24 April 2014, a share buyback resolution was passed for Oversea-Chinese Banking Corporation. Between 6 and 10 April, Oversea-Chinese Banking Corporation repurchased a total number of 600,000 shares with a total consideration of S\\$ 6,388,216.60.

The maximum number of shares authorised for the buyback 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 19,266,500 shares under the 24 April 2014 resolution. This represented 0.56% of the company's issued shares (excluding treasury shares) as at the date of the share buyback resolution.

As of 9 April 2015, the number of issued shares excluding treasury shares stood at 3,981,550,093 and the number of treasury shares held after purchase stood at 11,379,226.

OSIM International

On 31 March 2015, a share buyback resolution was passed for OSIM International. Between 6 and 10 April, OSIM International repurchased a total number of 1,977,000 shares with a total consideration of S\\$ 3,703,698.85.

The maximum number of shares authorised for the buyback transaction was 77,915,153. As of end of last week, by way of acquisition, OSIM International had purchased a cumulative amount of 1,977,000 shares under the 31 March 2015 resolution. This represented 0.26% of the company's issued shares (excluding treasury shares) as at the date of the share buyback resolution.

As of 7 April 2015, the number of issued shares excluding treasury shares stood at 770,705,956 and the number of treasury shares held after purchase stood at 8,445,573.

United Overseas Bank

On 24 April 2014, a share buyback resolution was passed for United Overseas Bank. Between 6 and 10 April, United Overseas Bank repurchased a total number of 108,623 shares with a total consideration of S\\$ 2,534,909.71.

The maximum number of shares authorised for the buyback transaction was 78,848,717. As of end of last week, by way of acquisition, United Overseas Bank had purchased a cumulative amount of 765,240 shares under the 24 April 2014 resolution. This represented 0.05% of the company's issued shares (excluding treasury shares) as at the date of the share buyback resolution.

As of 10 April 2015, the number of issued shares excluding treasury shares stood at 1,602,117,827 and the number of treasury shares held after purchase stood at 12,426,127.

USP Group

On 27 February 2015, a share buyback resolution was passed for USP Group. Between 6 and 10 April, USP Group repurchased a total number of 11,655,900 shares with a total consideration of S\\$ 907,268.10.

The maximum number of shares authorised for the buyback transaction was 67,012,023. As of end of last week, by way of acquisition, USP Group had purchased a cumulative amount of 28,957,300 shares under the 27 February 2015 resolution. This represented 4.32% of the company's issued shares (excluding treasury shares) as at the date of the share buyback resolution.

As of 9 April 2015, the number of issued shares excluding treasury shares stood at 641,162,938 and the number of treasury shares held after purchase stood at 28,957,300.