Ann: Share BuyBack Update, page-15

@supreme
@johnfreely
@Wallstreetman

Great minds think alike.
Didn't think we would get a pullback like this, happy to top up. Same SP as around July last year, only the story has gotten better.

In a time of inflation worries, to have guaranteed in-built growth, expanding margin on 90% recurring revenue, balance sheet strength, smooth integration of merged business units and low opex with a simple to understand business structure with network advantage in a duopoly market... What is not to love?

As stated in the call, the Buyback was held back due to that capital allowing for optionality for possible M&A discussions (inside Australia) and was too close to Half Yearly. They were watching the SP as well and were discussing the timing of the Buyback. This is a very attractive business.