The company is not allowed to drive up the share price nor are they deeply involved in the daily operations of the buyback. They issue instructions to the broker in charge of the buyback the amt they want to spend overall.the asx rules dictate the upper price they can pay and the amt they can buy based on daily turnover etc and then the broker who is at arms length from the company executes on their behalf.
It’s not about driving the price it’s about the best use of capital and about driving up eps
Charimans statement, page-41
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33.0¢ |
Change
0.010(3.13%) |
Mkt cap ! $25.18M | |||
| Open | High | Low | Value | Volume |
| 32.0¢ | 33.0¢ | 32.0¢ | $56.15K | 172.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 62403 | 32.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 33.0¢ | 8511 | 1 |
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