This is a great move by the board, signals to the market they believe the share price is undervalued and this is a plan to maximise the SP.
As below the programs remain fully funded from our SPP last year.
So the question for holders. Are you happy to them to keep the 6m in the bank for the next 12 months (what is that really worth?) or have the option to buy back stock that can result in SP appreciation.
If it was taking away from the funding of trails I would be concerned, but the cash will just be sitting in the bank.
Very open ended, up to 4 million - might not even purchase that amount and over a 12 month period.
What cash receipts do they expect over the next 12 months?
This is exaclty what the CEO and board should be looking at - sends a strong signal to the market.
Interesting times ahead.
Ann: Race Oncology Announces On-Market Share Buyback, page-32
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