There is a fund limit 10% of issued capital with an undisclosed trigger price. Which is great as it places a floor to selling pressure.
The company does expect a small profit this year still.
What is great about the buyback is that it almost takes out small holders of the stock and makes it quite tightly held (top 20) which are LT holders. So at current market rates 10% or around $600k could effectively mean that MC instantly rebounding upwards. Remembering that a lot of times this SP bounces -20% +10% etc on like $100 bucks of trade value! So the small baggers are dictating MC and value terms currently. The main thing with this business is that it is LT certainly I knew that going in.
They’re a great little business just need some time to wash that CV19 away with Highways and others.
cheers
MSG Price at posting:
3.3¢ Sentiment: Buy Disclosure: Held
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