Ann: Notice of off-market minimum holding share buyback, page-5

Ah yes, the court case... well over 2 years ago they lodged claims against BRL (years and years after the actual thing in question) and have probably spent millions since then fighting in multiple courts for no certain outcome (with an absolute maximum payoff of around $60-$70m)... meanwhile BRL has gone from producing $12m EBITDA in FY16 to $100m+ EBITDA in FY19.
That maximum amount of around $60-$70m, should L&M win, probably won't be paid until the end of this year, and perhaps even later... man I feel almost sorry for those guys at L&M now, they probably hoped BRL would come to the table a year or two ago and just pay them something. But why would BRL? They know roughly the maximum amount (it isn't going to go up alot more with interest etc), and are adding millions in cashies to the bank balance every month so why not crack open another one and keep this charade running as long as possible?

A part of me almost hope L&M win now, so they get something out of over 2 years of fighting (other than stress a huge black hole in their wallet), then again, the whole cynical nature and convenient timing of their claim makes me not so hopeful they win. Meanwhile, us BRL shareholders have got a boat load out of it, share price increasing nearly 200% (from 5c to 14c), and there is still much, much more yet to be reflected in the share price.

Quarterly should be out this month, it won't have a dividend, but it'll be pretty good - market won't care either way it seems until this court cases finishes, for better or worse - the outcome doesn't even matter anymore (as I said many months ago, and more recent price action has vindicated this, the worst outcome is actually priced in at 14.0c, give or take half a cent here or there)