Well, I was expecting to see notifications re share buyback by now, my calculations say purchase of shares was possible all of this week. I am coming around to Patrick's point of view that the buyback won't be completed in its entirety.
The first 10% completion time is by end of May 2024, if we were committed to this we should have seen some action by now.
There's several reasons for not advancing the buy back by now, one is that the company has some market sensitive information and are in a self imposed blackout period, another is that they have some possible acquisitions in the near horizon and would rather use the cash for that. Yet another is that we are burning cash faster than reported in 1HF 24 ( let's hope not).
I think the most likely is lack of appetite to complete the buyback at these fast increasing prices. The CFOs words regarding this at the presentation was " we will continue the buyback in some form" that, to me means, not fully.
MYX Price at posting:
$6.99 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)