Yep..IMO the the decisions around capital management of this...

Yep..IMO the the decisions around capital management of this saga has been poorly handled by way of formal announcements. Perhaps they should have waited for the Waggaman deal to finalise , sale of the balance of the fertiliser business to be valued and settled and in fact certainty surrounding the sale of the whole business to play out, before announcing buybacks , capital returns , dividend etc. Imo this is indicative of the disharmony that was/is evident at board level. Any new investor to IPL at the moment wouldn't have any idea as to the company's value. I'm
not concerned about an estimated average buyback price of $2.30 because the market will determine that over the year ahead. What we won't know is the true value of what's left ie. explosives business, until these sale matters and capital management decisions are finalised, and residue business is operating in clear air. I'm eagerly awaiting a clear update at next week's meeting .