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....
Sorry for the cynicism but expecting a shocker of a quarterly...
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Mkt cap ! $94.98M | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 25000 | 43.0¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 45.0¢ | 25000 | 1 |
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