I am corrected, did not understand rule 7.33...

I am corrected, did not understand rule 7.33 http://www.asx.com.au/documents/rules/Chapter07.pdf

If the price keeps rising, which I feel is the direction given the business restructure and recent contract wins, we will get a better gauge of what the board thinks a reasonable price is when the daily buy-back notices stop.

As for not buying back the full 10%? The buy back is opportunistic in that the board believes that they will get a better return on capital in MAH equity rather than investing the money elsewhere right now given the belting MAH share price got, particularly after the loss of CC2. If the share price rises such that the return is no longer the best investment of capital, the money rightly goes elsewhere. It's a win either way, good return _or_ strong share price.

Rex