Nov 23rd 2007, 11:40 SLR SL Reports
by Xavier Mohr
SLR will exploit its own high volume
Hi Everyone,
I would just like to announce that the recent high volume in SLR - caused by a variety of things including my resignation - has led to a fairly handsome market maker commission being delivered to my account each day.
For transparency purposes I would like to disclose that I will be utilizing these funds to randomly purchase shares at market price before destroying them, further increasing the value of your SLR shares. Lindsay Druart first mentioned this idea here in the CapEx forums, and I felt it was a very good one worth playing copycat on.
This will occur regularly and sporadically, aside from the larger buybacks I have outlined in previous announcements. I will not make an announcement each time I do this, but will try to follow up weekly or every other week in letting you know the total amount spent and total number of shares retired.
This particular practice... I cannot promise will be continued once I leave.... since technically the market maker commission belongs to the CEO and can be used how he or she wishes.
In any event, I am proud that for once shareholders can PROFIT from the drama caused by a company's CEO!
Take Care,
Xavier Mohr