jdvictoria,I would tend to be more cynical about the share buy...

jdvictoria,

I would tend to be more cynical about the share buy back proposal. The dividend was quoted in the propectus and at the time the markets were in overdrive. The share buy back proposal occured not that long ago and mere weeks before the debt covenents were breached and the write offs occured. This announcement significantly increased the price of CQU at the time (approx 3 fold). It is very hard to believe management were not at least somewhat aware of their situation when feeding this information to shareholders. What annoys me the most is they have not addressed it since (even though its assumed it cannot happen).