Replies to post #44980 on Protective Capital Structures Corp. (fka PCSO)

[chefdujour]

Yes, a confimation on that rule would clear up a lot of guesswork.

[jamcneel]

dont know for sure.

[Built2Trade]

RULES OF SHARE BUYBACKS

According to SEC Rule 10b-18:

1 One Broker-Dealer per Day: The company repurchasing shares may not use more than one broker or dealer to acquire the shares per each day.

2 Timing of Purchase: A repurchase may not be the first trade of the day. Repurchases may not be made in the last ten minutes of the trading day. These rules do not apply to over-the-counter securities.

3 Purchase Price: A repurchase may not be bid at a price higher than the highest independent bid or last price of the last trade.

4 Volume: Repurchases per day may not exceed 25% of the average daily volume of the previous 4 calendar weeks. Block purchases not effected by a broker-dealer are excluded from this restriction.
http://en.wikipedia.org/wiki/Share_buyback

[lc45]

There was an earlier post of the rules appliing here. It was done weeks ago. At the time it appeared there were several holes that could allow pinks to do about anything they want. You had to read a bunch of the Must DO's, then there would be a small However clause that gave an out. Careful scrutiny was required. Every one tended to ignore those that post that info, and concentrated on the 25% rule, the DOs, etc. Just from memory, as I didn't print the post, or just misplaced my copy is more likely the case. Will keep looking. Maybe some of our DD guys & gals can come up with the info.. GLTA LC