Ann: Appendix 4E and Annual Report to Shareholders 2023, page-19

If they can spend money on that they can spend money on a share buyback that will actually benefit shareholders - it would make zero difference to any payor or government that $20 million (just 12% of cash reserves) was spent on a buyback. If the payors really cared they could point to high profit margin, executive rem., soirees or the enormous amount of cash in the bank - returning a tiny percentage via buyback is meaningless (except to actual shareholders). COH and PME are running share buybacks now and no one cares they are just protecting shareholders by assisting the share price. CSL actually did buybacks when they had been fully privatised for a shorter period of time than CUV. Clinuvel has been booted out of the ASX200, it's time to do more that will actually help the company return to the ASX200, and not allow short sellers to continually control the narrative and kick the share price lower and a share buyback will do just that, and by removing shares from the register it benefits EPS for eternity. This theory that a share buyback is all that will be frowned upon, while everything else that points to an ultra profitable and successful company is fine, is just weird.

All IMO DYOR