I would suggest, given past behaviours, the sellers who have been loading the bases will now think they can get a lot north of here. Personally, I hope the company puts the buyback in at the floor price of around 17.5c and 18c and lets those that wat out take it. If they want to hold and sell 50k per day then say 10 million would take a very long time. To me, this buyback should not be at a cost to the shareholders. you may say that getting rid of strale holders benefits remaining shareholders. I agree but at the same time, they could be using the cash to pay cash for acquisitions.
The selling pressure has deflated any upward movement despite management producing a great second half. They have kept stacking the sell-side so my view is put in the underpin but don't give them more.
Much like in a takeover you put a huge buy order in a few cents below your offer price and let tho0se that want out to sell into it.
So really just let them take it because after its all used up it's done and dusted.
I have no need to sell and would be wanting the company to conserve its cash and become a dividend-paying investment.
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