To correct my post above, it is NZD $45,000,000 worth of shares (not 45,000,000 shares) the board has committed to buying back. At NZX current opening price today, NZD 1.31, that would be approximately 34.3 million shares. Which is that roughly 9% of the total 379,483,987 shares outstanding that they are buying back. I understand that they plan to do so by a Scheme of Arrangement, so essentially they will buy 9% of whatever shares you hold on the day of record and pay it to you as a return of capital (not a dividend).
Of course, this actual percentage could vary according to what the share price/VWAP does - a higher share price/VWAP on record date would mean a lesser number of shares needing to bought back for the total NZD $45m and vice versa. Also there is a slight difference in value/arbitrage between NZX/NZD and ASX/AUD on the day too which I can't easily calculate as it fluctuates also.
DYOR and calculations of course, these are just my rough scratchings.
TWR Price at posting:
$1.23 Sentiment: Buy Disclosure: Held
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