They only bought 400000 out of 2.4M traded on Friday. All shares...

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bsredoje

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24/02/25

10:02

Post #: 77991359
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Originally posted by jdpc35: ↑

Good start in 2 days since recommencing.

Their problem in keeping up this early momentum this week (with the share price at a 31.5c close on Friday) is this:

4.7 Highest price allowed to be paid by entity on the previous day under listing rule 7.33:
AUD 0.3150000

They need "weak hand" holders to keep providing big volumes at these price levels for the moment. If that volume dries up but the price also creeps up, then the buyback pace will need to slow to accommodate the highest allowable price under the cap imposed by Listing Rule 7.33:

Listing Rule 7.33 provides that a listed entity may only buy back securities under an on-market buy-back at a price which is not more than 5% above the volume weighted average market price for securities in that class, calculated over the last 5 days on which sales in the shares were recorded before the day on which the purchase under the buy-back was made.

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They only bought 400000 out of 2.4M traded on Friday. All shares sold were traded bellow 31.5c. They're still holding back. Today max price is probably 32c or even 32.5c so that's not a problem IMHO

MGX Price at posting: 31.5¢ Sentiment: None Disclosure: Held
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(20min delay)
Last 26.5¢		Change -0.005(1.85%)		Mkt cap ! $312.5M

Open	High	Low	Value	Volume
27.0¢	27.3¢	26.0¢	$413.3K	1.539M

Buyers (Bids)

No.	Vol.	Price($)
8	338868	26.0¢

Sellers (Offers)

Price($)	Vol.	No.
26.5¢	19998	1

View Market Depth

No.	Vol.	Price($)
7	318868	0.260
3	204002	0.255
7	277000	0.250
1	250000	0.245
2	6270	0.240

Price($)	Vol.	No.
0.265	19998	1
0.270	22276	2
0.275	244985	6
0.280	375261	12
0.285	243981	7

Last trade - 16.10pm 16/06/2025 (20 minute delay)

MGX (ASX) Chart

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