So if they use a portion of the $500k to BB at 2.2-2.3 and holds at that price for 5 days then you add 5% and the moving average might increase to 2.3-2.4, it holds, it increases, they buy in again and hopefully the SP steadily increases back towards 3c then 4c and so on. Its almost like a gap filler so the SP doesn't fall of the edge of the earth (reducing their equity) while they wait for results to be achieved.
They're sort of manipulating the stock but hence why they have an approved external company to process the bids.
That's my view but it could be completely wrong.
Ann: On-Market Buy-Back of Ordinary Shares, page-13
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Last
13.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $31.66M | |||
| Open | High | Low | Value | Volume |
| 13.0¢ | 13.5¢ | 13.0¢ | $30.69K | 234.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4000 | 13.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 14.0¢ | 42846 | 1 |
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| Last trade - 15.31pm 06/08/2024 (20 minute delay) ? |
| NVA (ASX) Chart |