Can 100% confirm what you say. Michael Fry, chair, is responsible for the buy back. He issues orders in exactly the same way punters here do through CommSec.
The only thing stopping him from ordering a 10m share chomp of the .013 queue is the .01268VWAP limit. Quite a bit of volume today at .0125 and .013 so that could bump it over .013 for Monday clearing the way!
Only the actual reason that won't happen Fry is buying as timidly as possible. It seems like the board feel they've been pushed in to the buy back by shareholders (imagine having to do what shareholders want you to do!) and are doing it as slowly as they can manage.
Slipping in those orders at .011 (and 0.010 too?) just proved how out of touch he was with the trading of the stock. Reminded me of watching Steve Smith pad up to Ali in the Ashes, take off for a run then howl in complaint as the umpire decided no genuine shot was offered.
Ann: Update - Notification of buy-back - BRK, page-8
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Last
1.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $47.72M | |||
| Open | High | Low | Value | Volume |
| 1.1¢ | 1.1¢ | 1.0¢ | $105.5K | 10.52M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 969396 | 1.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.1¢ | 46520747 | 31 |
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| Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
| BRK (ASX) Chart |