share buyback, page-6

Hi ASF

The fact that the buyback mandate will be governed by 'predetermined parameters', means that it can continue at the descretion of Baillieau's.

I'm quite happy with the buyback (don't really know what impact it will have on SP).

My only major concern with the buybacks, is if the execs bonus scheme is linked to EPS and that the buyback directly assists in jumping bonus performance hurdles. That would irk me.

Overall though I still think this stock is as cheap as chips.