I wonder when the buy back using the $680m from the VVR sale is going to happen. The VEA share price keeps rising in line with global oil price(and Covid recovery),and in my opinion, a partial buy back should have been done when oil was low $20 and there was panic in relation to the contract expiry.Not hindsight just prudent management given share price was> $2.00 three months earlier.
Ok that has been missed but do some of the buy-back even at current levels given the global oil price is still approx 30% below the recent highs of $60 ish..Whilst some of the funds mentioned above are to cap ex,I hope board is not trying to predict the future price of oil as that is an impossible feat.
Ann: Notice of 2020 Annual General Meeting, page-2
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Last
$2.96 |
Change
0.040(1.37%) |
Mkt cap ! $4.720B | |||
| Open | High | Low | Value | Volume |
| $2.94 | $2.98 | $2.92 | $8.481M | 2.877M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 7500 | $2.95 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.96 | 52951 | 4 |
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| Last trade - 16.10pm 02/10/2024 (20 minute delay) ? |
| VEA (ASX) Chart |