Todays buy-back notice shows Adacel have paid $1.18/share for ~1.2 million shares of the total allowable 7.8 million shares in the 12 month share buy-back which expires 30 May 2019 . I think Adacel should keep net cash on the balance sheet and probably keep a small dividend in place for credibility. The argument around accelerating the buy back at these depressed share prices has more merit than paying an unfranked dividend.
Hard to make sense, page-6
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Last
48.0¢ |
Change
-0.005(1.03%) |
Mkt cap ! $36.58M | |||
| Open | High | Low | Value | Volume |
| 48.0¢ | 48.5¢ | 48.0¢ | $11.05K | 23.02K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 6298 | 48.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 49.0¢ | 1612 | 1 |
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| ADA (ASX) Chart |