Just under half way through the buyback and the average price paid has been $1.16, pretty good when your NTA is ~$1.58, I.e. a 26.5% discount. I think the share price is ticking along nicely atm and pausing the DRP was also a good move from a capital management perspective. Not sure what price it would take to get back into the asx300 but that should be one of the agenda for the next 12 months. It makes so much sense to buyback shares below NTA. I think forces will continue to drive the SP towards that $1.60 mark in the short term, beyond that we will need cost improvements, rate cuts and / or loan book growth to move towards $2.
SVR Price at posting:
$1.34 Sentiment: Buy Disclosure: Held
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