share price would collapse if they announced any thermal acquisition.
Offmarket Buyback is the way to go, especially to start burning the $490m franking credits that would otherwise not be fully utilized. Can you imagine SMSF and pension funds jumping over each other to participate in a [for example]: 20c capital component + $1.54 fully franked dividend + $0.66c franking credit = $2.40 buy back which only costs $1.74 to fund, a number less than the convertible note exercise price? Even 200m shares bought back barely scratches the franking credit balance ($132m reduction). SOL could even participate with those credits passed onto their shareholders.
It's Buyback Time, page-27
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Last
$4.98 |
Change
0.050(1.01%) |
Mkt cap ! $4.209B | |||
| Open | High | Low | Value | Volume |
| $4.93 | $4.99 | $4.79 | $13.92M | 2.825M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 715 | $4.97 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.98 | 13663 | 2 |
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| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| NHC (ASX) Chart |