NVA 0.00% 13.5¢ nova minerals limited

Ann: Investor Presentation - Nova Positioned for Growth, page-167

  1. 411 Posts.
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    I think to clarify some wording for serena's benefit (although to be honest this is a joke and I don't know why we are all entertaining the subjet):

    The buy back isn't halted as such, just that the company chooses when to actively buy on market or not. They don't need to advise the market or regulators except for the initiation of the buy back, when shares are purchased and its completion. As per ASIC guidelines and ASX listing rules, the time frame is to be determined and noted in the documentation submitted to regulatory authorities by the company. In this instance, NVA has specified a 12 month buy-back period. They can choose to buy back at any time during that period, and from memory this was handed off to a brokerage firm to manage. The directors likely provide guidance to them on when to actively buy on market and when to not. All 500k could be used tomorrow, or none could be used at all for the entire period - it is entirely at their discretion and for the benefit of the company.

    Some may disagree with their management of the buyback but there's a reason why they are the Directors and we are not.

    IMO they have handled the buy back satisfactorily so far.

    No need to spam every thread blaming the current SP on the buy back not being cancelled.
 
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