FWIW, the buyback commenced 15/6 and to date 2,183,000 shares have been BB. SP peaked $15.57 on 11/8.
Balance is approx 7.8M to be bought back.
At least MFG can buy back now @ approx $11 or less x 7.8M remaining = $86million.
Had they done the BB @ say $14 average the cost would have been 7.8m remaining x $14 = $109m. ie an extra $23m
They would have known that FUM was going to reduce & now can get in with the remainder 7.8M.
Once this is complete, they may have arranged to have funds to extend another 10M shares BB. (already will have $23m in the kitty)
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FWIW, the buyback commenced 15/6 and to date 2,183,000 shares...
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Open | High | Low | Value | Volume |
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1 | 400 | 8.220 |
1 | 8550 | 8.210 |
5 | 8038 | 8.200 |
3 | 2923 | 8.180 |
Price($) | Vol. | No. |
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