Life Is Grand For Parkson Holdings

Life is wonderful.

Life is grand.

Blogged previously: Share BuyBacks: Parkson Holdings Part II. As mentioned in that posting, Parkson Holdings had spend a fortune in its share buybacks program.

Now if my data entry is not too way off, Parkson splashed out a whopping 93 million ringgit on this incredible share buy back program.

And of course, with the recent happy shooting stock markets globally, Parkson Holdings last traded at 5.40, which means that these share buy backs could mean that Parkson Holdings is sitting on a nice tidy profit. That's of course is good news for Parkson and it's minority shareholders.

How can complain?

Who wants to complain?

LOL!

Of course, unless it's me.

Now do you know that another party is so happy with this outcome.

So happy that they are disposing their shares. Take a look.

03/08/2009 Changes in Director's Interest (S135) - TAN SRI CHENG HENG JEM

• Disposed 31/07/2009 445,200 5.358
  Disposed 31/07/2009 230,000 5.358

31/07/2009 Changes in Director's Interest (S135) - TAN SRI CHENG HENG JEM

• Disposed 30/07/2009 554,800 5.350

29/07/2009 Changes in Director's Interest (S135) - TAN SRI CHENG HENG JEM

• Disposed 28/07/2009 1,000,000 5.385

20/07/2009 Changes in Director's Interest (S135) - TAN SRI CHENG HENG JEM

• Disposed 15/07/2009 1,500,000 5.005
  Disposed 16/07/2009 29,000 5.100
  Disposed 17/07/2009 1,600,000 5.050

03/07/2009 Changes in Director's Interest (S135) - TAN SRI CHENG HENG JEM

• Disposed 26/06/2009 1,000,000 4.980
  Disposed 29/06/2009 1,000,000 5.001
  Disposed 02/07/2009 146,300 5.021

25/06/2009 Changes in Director's Interest (S135) - TAN SRI CHENG HENG JEM

• Disposed 19/06/2009 1,000,000 4.704

17/06/2009 Changes in Sub. S-hldr's Int. (29B) - TAN SRI CHENG HENG JEM

• Disposed 10/06/2009 3,556,000 4.844
  Disposed 11/06/2009 1,832,000 4.806
  Disposed 12/06/2009 1,168,000 4.764
  Disposed 15/06/2009 180,300 4.800
  Disposed 16/06/2009 1,819,700 4.707

And the list goes on....

How?

Is the reason for Parkson's share buybacks so that the majority shareholders can dispose their shares?

How nice!

Now isn't this why you need to be a long term insider in Parkson. So says the expert! LOL!

Life is grand!