So AOG is not buying but someone is? All sorts of questions should be asked. There is no obligation to begin the buy back now but one sort of expects it, as the stock is well below NTA. I’m certainly confused! Surely AOG wouldn’t propose such an action unless it was to share holders benefit?
Here’s some hypothetical’s. Remember back on the 17th over 9m shares changed hands. An unusually high volume with the stock dropping from >$2.20 down to $1.92 then back up to close at $2.06. Sure there was a rebound but the trend since has been downward.
Let’s think that maybe this dump was deliberate being implemented before the buyback was scheduled to commence on the 24th.
So why would sellers push the price down when a buy back was imminent? Let’s say the sellers knew that the buyback would be at prices below $2.00
Would the ASX question or condone such collaboration which resulted in parties agreeing to a market buy back at prearranged prices where others not being privy to that arrangement were locked out of participating in any backroom deals made possible by that collaboration?
AOG Price at posting:
$2.01 Sentiment: Hold Disclosure: Held
