I did check on ASIC to see when KCN first notified them of their intention to buy back. It does appear to be the 13/10 so they won't be able to start buying buy back till then.
My main query is...where will they get the funds to buy back 10%? They surely need that money if available for daily running costs and projects. The court cases won't be cheap either.
Are KCN like the boy who cried wolf?
Is this just a ploy to try to keep shareholders happy?
KCN Price at posting:
33.0¢ Sentiment: None Disclosure: Not Held
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