Replies to post #200687 on NSAV Holding Inc (NSAV)

[shotsky]

That sounds about right. You really have to read the conditions for buybacks to put the whole program into perspective. The ONE thing that is NOT happening, is that NSAV is not buying ANY shares back until a notice is filed with the SEC saying how many, and over what time period, and using what method, and finally, how much they will pay for them. Those are the rules for buybacks, so if anyone is imagining them buying back on the sly, fuggetaboutit. Instant SEC violation.

[Namtro]

I thought it was 25%, no?

[Namtro]

https://www.skadden.com/insights/publications/2020/03/share-repurchases

3. Volume: The aggregate purchases on any given day must not exceed 25% of the purchased security’s ADTV. “Block”8 trades typically will be included in computing a security’s ADTV. However, once per week, “in lieu of purchasing under the 25 percent of ADTV limit for that day,”9 a company or its affiliated purchasers may make one block trade of its shares without regard to the volume limit, provided that it does not make any other Rule 10b-18 purchases on the same day. Purchases made pursuant to this block trade exception will not be included in computing a security’s ADTV for purposes of Rule 10b-18 volume limits;