Ann: Daily share buy-back notice - Appendix 3E-KAR.AX, page-55

It is not pessimistic or negative, it is a REALITY that the board / management let the shareholders down.
The poor performance or non performance is well reflected in the share price, why the market chose to ignore and place no value on its enormous cash reserve ?? You don't have to be A Einstein to figure that out. For any company to strive and successful, you need a dynamic and astute management team with clear business plan and clear strategy to deal with any market environment.
With the enormous cash reserve they should pursue many opportunities in the market place (in the very unique and admirable position compare to their peers), but they chose to sit tight and do very little and just focus on the Brazilian asset which is not viable at current oil price.
I am a very angry long term shareholders, not prepare to unload at this stage to take the big loss, hoping the board will do the right thing, using the cash reserve to increase shareholders value, but we don't see that happening, very disappointing.