Maybe we will see very soon an off market buyback of 20% of...

Maybe we will see very soon an off market buyback of 20% of shares at level of say 15.5 cents? Speaking of Kangaroo Island shares, late last year they did something similar there, off market buyback for 20% of the company at a similar sort of premium to where it was trading. Perhaps Samuel Terry will be happy not to tender many or any of their shares and up their control. I am starting to think I would prefer this at the moment to capital returns and certainly unfranked dividends as the share price despite a great run the last 2 years still seems way too cheap.

Announcing an on market buyback is too much stuffing around for less impact and too slow. An off market buyback in the next few weeks whilst the stock still looks like good value might be the way to go. If at a reasonable premium there should be enough selling into it to have a good impact. Yet a bit of a premium is still great value for the company to be buying back shares IMO. Even though HZN is one of my top holdings I may even not bother tendering into such buyback at all, I am not sure.