buy-back, page-7

Hi Oracle,

Trying to work out what has just happened... do you agree with this:

Myer Family Office Ltd just sold 5.2 million shares (9.25% of MVP) i.e. their entire holding.

MVP, through the buyback programme, bought 4.8 million of these for 17c (8.52% of total share capital)

Director bought a few (87,000) and the rest may have been bought by others / insiders and are yet to be disclosed (if required to).

Thus, in one transaction MVP has reduced total share capital by 8.52% and thus improved the PE ratio, etc for all shareholders, tightened up the liquidity of shares even more, used a chunk of their free cash flow to do it...

Does this sound right??? What do you reckon - good or bad for us holders?? Cheers John