Ann: Notice of on-market share buyback, page-4

This market is definitely a huge opportunity for businesses under share price pressure, but which still have strong underlying businesses generating a lot of cash and a healthy cash balance to buy-back stock on the cheap.

Apart from the energy and materials sector, every other sector is being sold off indiscriminately, and while there are many businesses that have been bid up way too high, there are others like NZM that have a strong, growing business paying out good returns and does not require more capital, but are also being sold off like other loss making businesses that probably need more capital.