JARDINES has offered to buy back odd share lots in the group's companies. Jardine Matheson Holdings said yesterday it would buy lots with less than 400 shares on the Singapore stock exchange. It would pay a five per cent premium on the stock's average mid-market closing price on the London Stock Exchange as an incentive to investors to sell small holdings. 'Some shareholders may have been deterred from disposing of their odd lots because of the high transaction costs relative to the small numbers of shares and because sales of odd lots are typically made at a discount of some five per cent below the prevailing market,' group corporate secretary Neil McNamara said. He said the incentive would allow the company to reduce administrative costs and help investors sell their holdings. Jardine Strategic Holdings said it was prepared to buy lots of less than 500 shares - the size of a board lot in the company. Dairy Farm International Holdings and Hongkong Land Holdings said they would buy back odd lots of less than 1,000 shares. Mr McNamara said the offers were 'tidying-up exercises helpful to odd lot holders' and involved less than one per cent of the total issued shares of all the companies.