Ann: Strategic Leasing Acquisition at Brooks Holding Doubled, page-31

Excellent question and something I have been wondering lately.

Thinking out loud. Given there is an EGM to vote on the capital return, management might use it as an opportunity to vote for an off market buyback for unmarketable parcels. This would make a bit of sense. At a lower share price there will be more shareholders with parcels less than $500 and there is a small ongoing admin saving doing this too.

Either way management have guided to $2.5m to spend on a buyback by 31 Dec. While I think they should be buying now I’m more concerned with them meeting their own guidance so as long as they spend this by then, then that’s the main thing for me.