Metlifecare eschews a share buyback for investing in growth

Mon, 26 Aug 2019

By Jenny Ruth Aug. 27 (BusinessDesk) - Metlifecare has ruled out trying to see whether a share buyback would help narrow the deep discount to net tangible assets because it believes it can add more value using available funds to keep developing its retirement village portfolio. Metlifecare shares fell 4 cents to $4.36 yesterday but their NTA at June 30 was $6.96, up from $6.89 a year earlier. Shares in rivals Ryman Healthcare and Summerset trade at premiums to NTA. The discount “remains a source of frustration for the board and managem...

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