Share Buyback, page-27

I've received a similar reply and it sounds all well and good however post the property sale the company should be sitting on a decent amount of unencumbered cash. While the business requires capital I have to ask whether the use of that capital will give returns to shareholders over time. Frankly, I'd rather the business stayed with its knitting and return excess cash to shareholders and if the board don't think the business cash flows over the next 3 years are being discounted too steeply by the market & a buy back is inappropriate then I'd like to see that capital raised from the sale of the property returned to shareholders via dividends. How many times have you seen companies squander cash on initiatives that don't come to fruition? Here, they should hold a briefing clearly stating what they intend doing & what it will cost. As an owner I want to know what's going on. Simply trusting the boards strategy and managements ability to successfully execute it without having a clear idea what it is is disconcerting.