The usual colorful and entertaining presentation by Alf! Only fined $300 by the Chairman for swearing three times, to which he retorted that he’s “always been hopeless with money…oh well, I am getting half of the dividend” (!).
Tessa was bold enough to ask if a buy back had been considered, given the strong cash balance. On hearing her name, Tessa sat back in her comfy chair and looked forward to Alf fully expounding his thoughts on the subject. However, it was all over in five seconds. “No, I’m not gonna do that”. This was the more considered, lengthier version after reflecting that his initial response (“No”) may have been a little short. Tessa burst out laughing. The man has a certain charisma which one appreciates even when he stomps on you!
Nothing was said to scare the horses. The basic message sermed to be “we”re coming off the bottom, we have competitors, but they’re not in our league”. Seemed to sound a cautiously optimistic tone. I’m encouraged, though not much the wiser as to why he is so opposed to a buyback. I understand that expansion could be around the corner, but the last buyback only cost about 5 million, and we’re sitting on 110.
Add to My Watchlist
What is My Watchlist?
