Ann: Update - Notification of buy-back - SWM, page-17

Market is sick of SWM being the plaything of Kerry Stocks and Seven Group Holdings.

That's why it trades at a massive discount, and will continue to trade at a discount to Nine.

Yeah great I have some shares in SWM, but will I ever receive a dividend? Ask Mr Stokes
Will I get bought out at a premium: Ask Mr Stokes

Will the on market buy back be a serious attempt to buy back shares or just nominal pitiful buy backs every day: Ask Mr Stokes

Everything is Ask Mr Stokes.

The market in its collective wisdom knows this.
SWM is not being run for the benefit of the shareholders as a collective whole.

Its being run for the benefit of Mr Stokes, and the agenda of Mr Stokes is probably very different to long suffering small shareholders.