They are all talk, we know the SP is cheap etc etc, well do something! BBY was 6 months ago and nothing has happened.
They are failing to match what the current business environment wants, which is dividends, and we aren't talking about paying the farm out! Just even a measly $2 million dollars would have appeased investors, on top of the business environment SBB is a special case as it would have gone a long ways to quell market fears. With interest rates so cheap and that size payout it would not hamper growth plans. The Forex gain was enough to cover it which would not have been budgeted for.
Their actions say the CEO does not want to return funds to the shareholders, plain and simple and every excuse under the sun is being used. Either a complete misread of the situation or they are incompetent managers. It is in their interest to have the SP high as they can acquire scrip for scrip or raise funds at higher levels, if they go out and buy something that is capped at 20 million and has $3 million in cash can you imagine what the market will do to this SP???
The second point is a small buy back, even $1 million just to give the market confidence. Apparently this is not a good look as the people who purchased at 20c won't be happy, which is about 2 people on the register at this stage! Never mind the 99.99% of other holders who purchased at 5-10 c who want some SP support.
Then thirdly Wayne says to holder I will buy once the dividend situation is cleared up then it is and now he says I never buy into companies I am a director of, stories keep changing again at all costs to not buy shares.
SBB Price at posting:
5.1¢ Sentiment: None Disclosure: Not Held
