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clock Created with Sketch. 16/05/25
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Originally posted by Silverchair:
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Why do things have to be so hard with Clinuvel? This buyback was low hanging fruit and after making ASX announcements they should have followed through in a robust manner just like Cochlear, or any other company that makes a buyback announcement, it is not hard and it matters. Do they really want to be a household name where people are going to be second guessing their words on announcements or anything for that matter? As a reminder here's what the Clinuvel board of directors said about the crazy undervaluation, and also what the company said in a newsletter regarding the share buyback (underline mine): (Note: since the directors released this there has been some good news on Blockbuster Vitiligo, Stroke results, great profit results with nice jumps in NPAT and EPS - so what must they think of the 'decoupling' now?) "Board of Directors view current market capitalisation as decoupled from the Company's value " . PW said on the same release " Given expected earnings, underlying growth in existing and new porphyria markets, current cash reserves, and projected expenses over the next 12 months, redistribution of capital to shareholders through a buy-back program is appropriate " . "We have chosen the moment of a repurchase as first clinical results for 2024 are published, and we will keep at it until those who gamble against the Company have understood the message . Given the expected future cash flows, we are in the position to prolong the program when required , since Board and management do not believe that market value has reflected the Company's performance in recent months. To those shareholders who have proven supportive, we have waited for the right moment to strike on your behalf ." " The share buy-back further increases the relative percentage of ownership for our owners, and thereby compounds CLINUVEL'S strategy to minimise dilution . With 1,500,000 shares (or approximately 3% of the outstanding share capital) to be repurchased, we hold a longer-term view on capital management without jeopardising plans to reinvest and expand the Company. " " The first trading days after the buy-back announcement on 14 March dispelled the myth that the share price is reflective of performance only " All IMO DYOR
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