Following on from analysis by Buffett a couple of days ago, I want to add a comment on NTC
NTC announced an on-market buy back in May and have a year to complete this (up to 10% of issued cap).
Company had not done so since SP was 15c a few months ago. Yesterday notice received of buy back at 31c.
With enough cash in the coffers to buy the max allowed per notice at current levels, and the fact that they bought in at 31c now after buying in last at 15c shows they are still looking at increasing shareholder value.
Announcing an on-market buy back yesterday, IMO is like having a potential buy order of 9.5m+ shares at current levels.
I had sold my holding this week after the rise and have now bought back in myself as a long term hold.
