Vote Down the ThinkSmart Buyback

ThinkSmart recently announced a proposed share buyback - Steve Johnson discusses the risks this presents to minority shareholders and why he believes it should be voted against...

Consumer leasing group Thinksmart (TSM) recently announced a proposed off-market auction to repurchase shares from investors at $0.31 to $0.42 per share. The company, which mostly provides point-of-sale financing for laptops and televisions at electronic retailers, sold its Australian business this year, and now has $0.245 per share in cash and a business in the United Kingdom potentially worth that again.

Shareholders now have a decision to make. Firstly, do they want the buyback to take place at all? Secondly, if it does go through, what price do they want to tender their shares at?

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