i wonder if holders of less than a marketable quantity will be targeted/
M
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i wonder if holders of less than a marketable quantity will be targeted/
M
recon the millions of 1cent part paid shares the staff get will be inline for the buy back.
Its an on market buy-back, only fully paid tradeable shares can be purchased at market price on or after 10 September 2010.
Itrs not a give-away as you've suggested and on market buy-backs have been used for many many years sucessfully by many companies looking to optimise returns to shareholders. I just wish the directors would really put their money where their mouth is and buy say 30 million back over the next year or so. Although I'm somewhat underwhelmed, the SP is up 5 cents this morning so the market likes the idea.
I wish they would kill this DRP !! mind you thats just me.
BB
I think I agree with your sentiment, it's not a huge buyback. But I guess the directors want to keep some cash for future developments. They would look pretty silly if they needed funds for some project and they had to have a rights issue shortly after a significant buyback!
i'd rather just know whats their plan, or do they have any real plan . rather than a buy back, it allows speculators/traders to come and manipulate the sp
It may not seem a large buy back in terms of shares on issue but IMO it IS large enough to protect the SP downside and also will be able to manuipulate the SP upwards on those many low volume days.
buy now and knowing the SP will be supported - then sell?
The collective managements 200 hrs. expertise has just been increased by probably 2 days, to 200 years and 2 days this year, being the time it took to work this brilliant scheme out, in the perennial lead up to the AGM it may just stop the price to fall as usual after.