I wonder when the buy back using the $680m from the VVR sale is going to happen. The VEA share price keeps rising in line with global oil price(and Covid recovery),and in my opinion, a partial buy back should have been done when oil was low $20 and there was panic in relation to the contract expiry.Not hindsight just prudent management given share price was> $2.00 three months earlier.
Ok that has been missed but do some of the buy-back even at current levels given the global oil price is still approx 30% below the recent highs of $60 ish..Whilst some of the funds mentioned above are to cap ex,I hope board is not trying to predict the future price of oil as that is an impossible feat.
Ann: Notice of 2020 Annual General Meeting, page-2
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Last
$2.62 |
Change
-0.040(1.50%) |
Mkt cap ! $4.178B | |||
| Open | High | Low | Value | Volume |
| $2.66 | $2.66 | $2.62 | $13.45M | 5.130M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 44132 | $2.61 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.63 | 15778 | 1 |
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| Last trade - 16.10pm 04/11/2024 (20 minute delay) ? |
| VEA (ASX) Chart |