Ann: Announcement of buy-back - Appendix 3C, page-9

It's all about surplus CASH, isn't it?
Cash from Ops of around $110m will largely be reinvested in the 400+ homes to be built. so not much joy from that angle.

That means they would need to borrow. Current net debt is around $620m and in the current regime of RC pending on Aged Care (which really shouldn't tarnish AOG) and the Four Corners/Fairfax fracas still somewhat current, the 'jelly-legged' bankers probably have reasons to pause and reflect.

What I have noticed of late (from the AFR) is the number of mega big Fundies visiting Australia from Stateside. Getting 'value' in the US is harder than finding the lost city of Atlantis and yet when they buy here, they get assets of value - remember our XAO is still 500 pints short of the 6,873 in December of 2007 whereas the DOW has kicked from the 2007 high of around 14,000 to over 26,000
PLUS the free-kick to revaluation with a falling Aussie dollar.

Surely that valuable little black book of the high profile finance gurus must be getting 'thumbed over'.