What they said: "We believe the buyback will benefit all our...

What they said: "We believe the buyback will benefit all our shareholders via a reduction in the number of shares on issue, thereby supporting the company's return on equity, earnings per share and dividend per share, for all shareholders who continue to hold shares in the company," New Hope chairman Robert Millner said.

Suncorp return of capital model will focus on the financial metric aims of Miillner’s but achieved by consolidation besides funds being distributed to all shareholders.
There was no need to participate in the buyback!

We as shareholders should have been rewarded and simply needed to adjust the cost base on our shares.

I’m fairly confident that the board opting for this buyback is to placate the traders, Institution or the T20!
When u hear professionals promoting this type of buyback as, “Best Practice” u need to be suspicious of their motives!

My underwing from the past is, if the NHC board opted for other forms of return of capital this group of professionals would have to pay the higher tax rate as income.
Instead the board is abetting this group of shareholders to be able to manipulate their stockholding and pay the lower tax rate as capital gains

Theoretically, us mum and dad investors could have received 2 dividends and 1 return of capital distribution which amounts to guaranteed payments within a financial year.

I speculate that funds set aside for the buyback, hardly any of funds end up in the hands of individuals with holding up to 5000 shares.

If anyone has any analytical or programming skill to find out how many shareholders within the 1000, 5000 group partaken in the buyback and the total $ amount for each group extracted from the allocated fund.