I'm far from an expert but from what I can understand the share buy back is due to the Long Term Incentives Targets not being reached, and therefore those issued shares are being bought back at the price they were issued at.
as per the notice from a few weeks ago there are:
319,226 shares being bought back at 10.04 (issued in 2018)
68,848 shares being bought back at 9.99 (issued in 2018)
264,830 shares being bought back at 6.61 (issued in 2020)
164,851 shares being bought back at 6.14 (issued in 2020)
So when averaged out, it is a price of $8.14 which seems high with a 12 month lens, but is appropriate when considering the longer lens and timeframes associated with each of these share issues.
Ann: Final share buy-back notice - Appendix 3F, page-3
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Last
$8.03 |
Change
0.250(3.21%) |
Mkt cap ! $1.076B | |||
| Open | High | Low | Value | Volume |
| $7.80 | $8.10 | $7.80 | $2.603M | 325.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 858 | $8.03 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.10 | 10292 | 5 |
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| Last trade - 16.10pm 19/11/2024 (20 minute delay) ? |
| SIQ (ASX) Chart |