Sorry for the cynicism but expecting a shocker of a quarterly now. I suspect this was put in place to cover for what's coming in the short term. The rig sale nicely covers capital requirements for shortfalls in already telegraphed reduced trading revenue & EBITDA this quarter
They've announced & put in place a buy back policy previously & opined that the share price was not reflective of value but I don't recall them ever buying a share. Will be interesting to see whether they actually do anything from mid july & if so in meaningful amounts rather than just token buys which would be worse, undermine confidence in management (again) & in turn hold back the share price going forward for longer
I'd prefer they went to town on the buyback over dividends with a share price below around 48c. Wonder where their buyback limit is at this time....
Ann: Capital Management Policy & Operational Update, page-4
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Last
43.0¢ |
Change
-0.010(2.27%) |
Mkt cap ! $91.98M | |||
| Open | High | Low | Value | Volume |
| 44.0¢ | 44.0¢ | 42.5¢ | $180.6K | 413.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2493 | 43.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 45.0¢ | 40000 | 1 |
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| Last trade - 15.34pm 09/07/2024 (20 minute delay) ? |
| MSV (ASX) Chart |