Wow, so they didn’t pause the buy back because they were being...

Wow, so they didn’t pause the buy back because they were being diligent with respect to avoiding insider trading prior to the release of news, they simply forgot to press the buy button. It’s as if they want investors to vote NO at the AGM. Unless they have something incredibly impressive to announce between now and 16 October, a NO vote will almost certainly be the outcome.

A phenomenally well run company with incredibly compelling fundamentals that will continue to perform well, but they need to show investors they care about them. It’s so easy for them to do, max out the buy back. It won’t take much cash, it won’t detract in any way shape or form from the core business. This is the reason it is so undervalued relative to its fundamentals and peer valuations though, they don’t even try to address the needs of shareholders.