The buy back has been a debacle like most of PPS management decisions following the knock back of the TO in Oct 21.
They intended to take out 10% of the stock (50m) when it was announced in June 22 when the price was about $0.60 funded by the $60m they got from the sale of International division.
To yesterday they'd taken out 21m at an average of $0.70 so the company burnt $14.5m to buy back shares now worth $7.7m and another 3.1m yesterday at $0.43 - an 18% premium to today's price. And what did the sp do the whole time? Nothing.
If you are really thinking of taking a punt here, have a look at the unanimous view of the board at the time of the NWL offer and their performance since..
Add to that the fact it sank like a stone yesterday, not because 23m shares went up for sale but due to the fact but no one other than a few retail punters will touch it.
I know hindsight is 20:20 but if I were you, I'd look elsewhere.
The buy back has been a debacle like most of PPS management...
Add PPS (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
47.0¢ |
Change
0.005(1.08%) |
Mkt cap ! $228.2M | |||
| Open | High | Low | Value | Volume |
| 46.5¢ | 47.0¢ | 46.0¢ | $104.3K | 224.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2000 | 46.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 47.0¢ | 6295 | 1 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
|
|||||
|
Last
46.0¢ |
Change
0.005 ( 1.94 %) |
||||
| Open | High | Low | Volume | ||
| 47.0¢ | 47.0¢ | 46.0¢ | 87784 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| PPS (ASX) Chart |