The BoD's and Peter Kerr's reputation rests with the current view there is an acquisition in play.
Peter Kerr has signalled to the market that the buyback will stop/pause whilst MGX enter in the negotiation phase of an acquisition. This statement is a high risk strategy as anything can happen.
Acquisitions are not easy to close particularly when you are the chaser. Often you chase 5-10 acquisitions to get 1.
What do we think if there is no acquisition (or a failed one that they are unable to discuss)?
Peter has a big light shining on him right now.
FYI - we have cracked 1 million shares per day to meet 10% buyback
MGX Price at posting:
29.5¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)