On November 23, 2018, the board of Directors of Sansiri Public Company Limited (SIRI) has resolved to approve the share repurchase program for financial management purpose in the number of shares repurchased approximately ฿1,486 million shares (at par value ฿1.07/share) or equal to approximately 10% of the total of paid-up capital.
While the maximum amount is not exceeding ฿3,000 million. The repurchase period covers the duration of 6 months, starting from 11 December 2018 to 10 June 2019.
The repurchased price shall not exceed the average closing price in the period of 5 consecutive business days prior to each repurchase date plus 15% of such average closing price. In this regard, the average share price for the past 30 consecutive business days from 11 October 2018 to 23 November 2018, was ฿1.49 per share (the past 30 consecutive business days average closing price).
The share repurchase will result in increased Return on Equity (ROE) and Earnings per Share (EPS) since the number of issued shares used as basis for calculations shall be reduced in equal amount as the repurchased shares. Also, The dividend yield tends to increase considering the case the Company pays the same amount of dividend with smaller number of shares, which shall increase the dividend per share.