Interesting announcement. I don't quite see the point of the buyback when the SP hovers at around NTA anyway? Perhaps they will buy the dips but the dips really haven't been that low.
They do say in the Appendix 3C that "The entity intends to use a combination of debt and internal cash reserves to fund the buy-back." So perhaps they also want to tweak the gearing?
Ann: On-market Buy Back of Securities, page-2
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