Personally I don't have a problem with a company buying back it's shares when they are trading at a discount to NAB. It is normal sensible capital management and is done by companies across the board, especially if there are shorters operating ( not that this is the case with OZG).
For new potential investors, yes it means that they pay the price comparable to the underlying value of the company, but for existing holders it means less shares on issue to service the profits available.
Having said that I still have a hopeful order in to top up at 15c.
Thanks for the input guys.
Cheers Riv
WIC Price at posting:
$1.07 Sentiment: None Disclosure: Not Held
OZG Price at posting:
18.0¢ Sentiment: Hold Disclosure: Held
