I don’t think it’s the primary reason. I think the primary reason is to help restore buyer confidence against aggressive dumping and trading that plagued us for months.
I agree though that the buyback could be used to help prevent trading tactics often used by potential bidders.
I was saving and analysing daily course of sales data for Kidman Resources prior to their buyout. Small trades often over 50% of daily trades (my reasoning for monitoring closely). I was monitoring price action because it didn’t agree with fundamentals following the court decision about their tenements.
https://hotcopper.com.au/posts/37815199/single
Industry news, page-727
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Last
$1.69 |
Change
0.000(0.00%) |
Mkt cap ! $288.0M | |||
| Open | High | Low | Value | Volume |
| $1.66 | $1.69 | $1.57 | $387.6K | 237.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 807 | $1.63 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.69 | 2376 | 1 |
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| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| RAC (ASX) Chart |