Ann: Finbar Announces Activation of On-Market Share Buy-Back, page-4

I know it's reverse dilutionary, but then yeah - my question was when they actually make the purchases. From what you've said it's discretionary and therefor eit can be at whatever price and/ or timing through the 12 month window... at market price that is.

I wouldn't say all buy backs are guaranteed wins. By theory it means they believe the value to existing shareholders in buying up shares is greater than the value they could get from reinvesting that money on new projects and the returns they bring.

In other words their ROI is forecast to be less than any potential increase mopping up shares. I assume so, otherwise why do it?

Given the state of the market - maybe the lack of projects made more sense to reduce shares at a discounted price now, so that when new, better ideas with a good postive rate of return come by, they can take these up, resulting in increased profits to smaller no of shareholders?

Wonder if anyone has the know how here to do some financial analysis on the buy back's potential effect on valuations or EPS even using forecast 15 numbers or 14. If so please?