Ann: Financial information as at March 31, 2020, page-43

Lets hope that they get the green light at the AGM tomorrow to buy back shares at these ridiculous prices. At present, you could buy them all for 6bil Euro by using some of their 11bil available borrowing. If URW could buy half of them (they are not getting my shares), that could almost double the value and the dividend. They could reduce rents and we would be back where we were 18 months ago with great prospects for future growth. They could keep the dividends for a couple of years to pay off debt and watch the share price go to 300 Euro in 3-5 years. In the GFC they were looking for good bargains but didn't find any. Now the best opportunity is to buy their own shares. I had to sell all of my other shares so I could hold URW (margin call). Wish I had sold URW back at $10 so I could buy them back now. It won't be at these prices for long. My 2 cents and I have not been successful with trading these last few months so don't take my advice, I could be wrong.