Ann: Daily share buy-back notice - Appendix 3E, page-12

Then your sentiment is sell, what is your sell sentiment based upon? Others have given some great examples of how such previous share buybacks internally have indicated an up tick in pricing.Buybacks will reduce total shares on offer, increasing future value per share as a total % of company value.

In my opinion, it is smarter for PME to do this - it is a rapidly growing company in which future potential in the medium term far outweighs short term dividend and franking credit returns.

Dividend and franking credits are ideal for a mature business.PME is not a mature business. If you want a great dividend return with franking, have a look at one of the companies I invest in, G8 Education or National Tyre and Wheel.

PME needs to keep future profits with current shareholders that want to share in the success of the business.