Ann: Minimum Holding Share Buy Back, page-13

Agreed - I'd think not.

And the 24c level is a bit cheeky. I'm not sure if it will be met with great enthusiasm.

And to correct an earlier poster, it's not mandatory acquisition, it is opt-in, so at best they may tidy up some, maybe most, but not all of these UPs, which really is just a smokescreen activity. On market buy backs have wonderfully positive effects on a SP....but this is not that. I suspect there was a sense of desperation around the ExCo - 'what can we give the market during a quiet time, to placate increasingly agitated shareholders?'. Because this is a fairly trivial activity. Some people just love having the dinner bell rung.

On the other hand, maybe the STX office was sitting around running a book on how many of the hyperbolic HC types would fly off on their tangential 'this is a clear sign of a TO.....the dark forces are gathering.....everyone else bar me should buy as much stock as possible whilst 'we' can'. On which, they'd be spot on.

Share price goes down 'shorters are trying to make the most of this opportunity, as word on the street is Gina is readying for a TO'
Share price goes up 'we own the best dirt in the PB. Everyone wants us. We'll get taken out any day'
Share price goes sideways 'it's deliberately being suppressed to get a lower VWAP in readiness for a TO'

We could even become insolvent....and we'll be ripe for a takeover.