current sp and buyback strategy

Hello all,

Been fairly quiet here of late & equally the IOH share price has just bounced along in the absence of news.

I wanted to open up for debate the logic and/or strategy of the current buyback, I have a few key opinions/concerns for discussion:

1. The buyback is a good thing for holders IMO, but why are we (and this is our money) underpinning the share price at $1.50ishl by simply buying more stock every day at these prices?

2. If the buyback were to stop (say tomorrow) would the price fall back to $1.40 or $1.30? To me this looks very much like the case - our buyback is artificially propping up the price.

3. If we could be the stock cheaper, why don't Fosters use a more strategic & targeted method to buy the stock? i.e. Stop simply buying every day, let the SP fall back another 10c or so and then buy.

I want to be clear, I'm not in principle against the buyback but it does seem like it's currently being done in a way that doesn't get the best value for our cash and is being used to artificially prop up the price.

Comments?