So since the buyback announcement, we are up from 17.5c to 24.5c that is 40%. I hope that the company doesn't see this as a real move and pay-up for buyback shares. I think the buyback should not be a support structure to help a large holder out of the market.
Essentially it's supposed to be a cheap buy for the company. So for my mind, I would put the buy-in at the underpinning price of 17.5c and let the market pick its own level.
The 25% climb today was on the back of total trades in value of $12,000 - that's not a market...
Beware the cheap bid to buy the company... I won't sell under 45c. Now that we have a plan and something to execute I want to have the ride, after all, we have all carried the very risky period to date and that will continue until the half-year is reported in Feb next year.
SEQ Price at posting:
24.5¢ Sentiment: None Disclosure: Held
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