Originally Posted by
Ripping
The company has been banging on for years about how the market is undervaluing the share price. This was the opportunity for them to say "our company is worth 300m (or whatever), here is your 50% of the company value".
What they have done is said "OK, if the market believes we are only worth 200m, then we will buyback half the shares at that price."
The effectively kills the market for NZO until the share cancellation is complete. And only after that does the share price have an opportunity to relevel to its supposed 'real' value. And if it does do that:
Company:1 Shareholders:0
I don't see this a returning 100m to shareholders, I see this as a capped, enforced buyback.
Perhaps I'm making this up, but that's how I see it.