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14:25
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Originally posted by Silverchair:
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One of the very best price sensitive announcements Clinuvel ever did was one year ago with the share buyback. We just need them to do what they said they would to the ASX back then. It makes more sense now than ever before. Clinuvel is today a stronger company than they have ever been. There is no way Clinuvel will ever make a cash printing, profit growing acquisition with a P/E of 14 like they represent today - there is no better investment than buying shares in themselves while protecting, rewarding and redistributing a small amount of capital to shareholders at the same time (as they stated to the ASX they would). They have over $200 Million cash right now and the buyback will use less than 10% of that amount and will in a few months time be replaced with new profits and Clinuvel will have $200 Million cash in the bank AGAIN if they started a 6 month share buyback today! In other words they have plenty of buffer cash. They really should just do this for so many reasons including getting shareholders back on side, good chance for Interim CEO to prove he can act and is not just warming the chair.
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Management are seemingly deer caught in the headlights.
(20min delay)