buy-back and nta improvement., page-6

Um, Plough, I wrote the stuff and I don't understand it myself!

I was trying to put together some sums to see what the buy-back would do to the share price. I'm certainly no accountant so any help/comments are most valuable.

:-)

What I do know, according to my measurements, is that this company is very much undervalued and it will only take time for the market to wake up and realize.

I'm accumulating and have been all the way down to the recent lows. With their great ROE, EPS, low p/e ratio and low NTA, I only can see this as a very good return on my investments.

The div is a bonus as it will attract the attention of other investors/traders, but really I would rather the company keep my div and reinvest it. (They are getting better returns than me!)

Happy days will come... Not too sure when, but I'm not too concerned as it just gives me more opportunities to buy.

:-) Keep on smiling!