we've just experienced the co waste millions artificially propping up the SP, because the day after it ended, SP fell off a cliff, from 12.5¢ to 7.5¢ in less than a month:
extending the buy back & dramatically increasing its size looks desperate, & is like putting lipstick on a pig, because it would be better to encourage current & new investors to buy shares, using external money, letting market forces determine the correct SP:
then the co's limited cash reserves could be used to grow output organically, or for another acquisition, or for a rainy day given the current tumultuous times, instead of buying back shares, which is the laziest option. boneheaded, actually:
if the CEO honestly thinks SP is cheap, he should throw all of his own money into buying shares, along with the other directors.
unfortunately less & less to like here. multiple things aren't adding up
note: i don't personally hold shares but my family does, i recommended ICI to them
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Ann: Seeking Approval for Share Buy-Back of up to 135m shares, page-32
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Last
2.0¢ |
Change
-0.001(4.76%) |
Mkt cap ! $26.89M |
Open | High | Low | Value | Volume |
2.1¢ | 2.1¢ | 2.0¢ | $10.59K | 524.3K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
8 | 348055 | 2.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
2.1¢ | 108401 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
8 | 348055 | 0.020 |
3 | 623946 | 0.019 |
3 | 304000 | 0.018 |
3 | 650000 | 0.017 |
3 | 612500 | 0.016 |
Price($) | Vol. | No. |
---|---|---|
0.021 | 108401 | 1 |
0.022 | 45400 | 1 |
0.023 | 67015 | 1 |
0.024 | 15000 | 1 |
0.025 | 405074 | 2 |
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