Absolutely. Certain requirements to be met for it to be executed (shareholder meeting, 75% majority vote, favourable Independent Expert Report) but shares bought back under a selective buyback are cancelled. Not 100% on tax treatment complicating it but I'm assuming the company simply deducts from its issued capital balance.
Not as simple as WCG finding a buyer for its holding, but an alternative that has benefits for both parties.
CNW Price at posting:
3.2¢ Sentiment: Buy Disclosure: Held
