Betfair set float price

[Euler]

The next thing to wait for in Betfairland is the appointment on the new CEO. With so many aspects under pressure I suspect the new CEO will come in and give things a radical shakeup.

[Iron]

Have you thought of applying for the post Peter?

Jeff

[andyfuller]

Shares taking another hammering today - hitting new lows. Was 644.00 last time I checked down a little over 5.5% on the day.

Biggest FTSE 250 Loser of the day at the moment - at least being a loser fits in line with their new PC policy where Losers are welcome.

[andyfuller]

Guess Betfair will be moving in to buy up shares again which should limit the slide.

[Euler]

Ed Wray just bought £100k's worth

http://www.investegate.co.uk/article.as ... 4960K&fe=1

[Innertube]

Hope they charged him 60% commission

[andyfuller]

Hope they charged him 60% commission

His lifetime 'profit' on his holding is currently about -£70,000,000 from their high so don't think he qualifies for the PC.

[JollyGreen]

Hope they charged him 60% commission

His lifetime 'profit' on his holding is currently about -£70,000,000 from their high so don't think he qualifies for the PC.

Nah, they haven't properly calculated it yet, they're going to treat him like the rest of us mushrooms!

[andyfuller]

Ed Wray just bought £100k's worth

http://www.investegate.co.uk/article.as ... 4960K&fe=1

Was it not £1,000,000 worth?

152,578 ordinary shares @ 655.4p

Those at close (646.00p) now being worth £14,346 less.

[Euler]

Shares are on a bit of a wild ride today, almost slipped below 600p at one point.

[spreadbetting]

Wonder how many shares they bought back today, been 50,000 for the last few days so it'll be interesting to see if they stepped up buying today

[andyfuller]

Shares are on a bit of a wild ride today, almost slipped below 600p at one point.

Closed down 4.72% on the day, -30.50 to close on 615.50p but did hit 607.50 at one stage.

Will we see sub 600p tomorrow? Surely odds on to hit it this week at some point.

[andyfuller]

Wonder how many shares they bought back today, been 50,000 for the last few days so it'll be interesting to see if they stepped up buying today

Another 50,000 today. average price paid was 626.74p

To date 467,477 shares have been repurchased under this authority. Will work ot roughly how much of the £50m they have spent, but roughly is around £3m I think so a long way to go yet and Ed Wray bought £1m the other day so there is £4m of buying holding up the price.

[spreadbetting]

Even betfair aren't stupid to stick £48M thru the market on one day , I reckon they'll just stick to their plan of buying back 50,000 per day for the foreseable future

[andyfuller]

Another 50,000 bought today by BF at an average price of 634.09p

Share closed at 632p up 16.50p or 2.68% on the day.

Interesting piece by Mark Davies on his blog today as well, can't say I agree with his view greatly though.

http://www.markxdavies.com/2011/07/19/taxing-times/