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clock Created with Sketch. 13/07/23
11:51
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Originally posted by Davisite:
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For those who have been wondering why we initiated the share buyback last year this is the reason. When we did the SPP raise in late 2021 we didn't think we would be eligible for this additional R&D tax refund on overseas expenditures (overseas R&D spending eligibility is very complex). This effectively meant we had more capital than we needed to support the announced programs. A company like Race can't pay dividends, so the only way to return the excess capital to the owners of this capital (shareholders) was a limited share buyback.
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Now that you’re a “shareholder” do you feel you are being put first? (Don’t need to answer that - was just a cheeky way of asking if you’re happy with the recent preclinical and clinical updates haha)
