buy back - only $12.5 million shares to go, page-5

Mike,

I must say I'm trying to figure that out myself. Couple of things to consider .

Capital return 8 cents in the bag, 8 cents to come in may
June dividend I expect the 2nd half profit to be stronger as machines go to the $2.50 charge so with the lowest forecast of 18 eps pretty certain we will get 12 cents of that. The share buy back also increases the EPS as less shares.

However...now that the 1st full months of DC is known there's plenty of holders that have had massive gains that will cash in so there will be selling pressure. The share back buy support's the SP to a degree.

For the moment I think the SP will trade in the $2.80 - $2.90 range...an announcement from NZ would kick the price.
The latest Baillieu report released after the financials came out has a $3.92 target.