Yes, it's a move in the right direction (given the shares trade at a substantial discount to book) and given the amount of cash held (especially at parent level), but will only be about 1.2% of shares on issue. So will not have a big influence in terms of enhancing shareholder value (ie, increasing intrinsic value per share. I'm not referring here to any potential movement in the share price - which is a separate issue from intrinsic value).
Ann: Announcement of buy-back - Appendix 3C-UOS.AX, page-3
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