I wonder if today turns out to be a good day to buy PAN shares...

I wonder if today turns out to be a good day to buy PAN shares as tomorrow the company can commence buying back and extinguishing shares.

1. Supporting the price on market

2. Reverse dilution = concentration!

Makes a nice change from the antics of the serial cap raisers.

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? The earliest date the buyback can commence is 11 July 2012 (14 days after lodging documents with ASIC).
? Panoramic has appointed Morgan Stanley Australia Securities Limited to act as its broker on the buyback.
? The Appendix 3C in relation to the on-market share buyback is attached to this announcement.
? All shares acquired in the buyback will be cancelled immediately.
? Panoramic reserves the right to suspend or terminate the buyback at any time, or to buy back less than 20.7 million shares.