Ann: On-Market Share Buy-Back, page-8

The company will spend up to A$300 million between 15 September 2022 and 14 September 2023 to buy shares on market and then cancel the shares. There are 1,165,126,222 shares on issue. At today's price of $7.79 the company could buy back 38,510,911 shares. There will be an announcement shortly notifying of the buyback and the conditions attached to the buyback. The buyback is at the company's discretion.

The company has to advise the market of the change in capital, so we will see announcements where the company may have bought 100,000 for example and the price paid.

See Listing Rule 7.29 to 7.33- https://www.asx.com.au/documents/rules/Chapter07.pdf

The effect is that the shares become more tightly held because there are fewer in the market and it pushes up the EPS. With the current price, the company considers that the buyback is a good way to essentially return money to holders. I like the increased dividend and the buyback.