Ann: NZME share buyback to commence on 4 April 2022, page-7

Share price rising is great for traders who wish to sell in the short term, however if they are spending $30m on buybacks i'd prefer it to be done when the price is $1 & not $1.50 as this gives me greater ownership of the business without me putting in more capital.

Example;
$30m / $1/share = 30m shares bought back or 15% of the company
$30m / $1.5/share = 20m shares bought back or 10% of the company

Therefore I can own 5% more of the business if they purchase at a lower price.

I'm not whinging I was just confused with the timing of the buybacks & now hopefully you can see why.