NB,
Buybacks would be my preference for any free cash flow as it wouldn't take much to drive the share price higher. Unfortunately, when a company has secured debt, the lenders have a "contractual foot" on how cash (being and asset securing the loans) can be utilised. It would be difficult if not impossible to convince one or both lenders to authorise a buyback: naturally the would expect their loan to be repaid first.
I suspect that you are assuming that you can buy all these shares back around the current share price. I believe that would not be possible as such demand would move the share price significantly.
Consider Voting NO, page-4
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Last
19.5¢ |
Change
-0.005(2.50%) |
Mkt cap ! $316.9M | |||
| Open | High | Low | Value | Volume |
| 20.0¢ | 20.0¢ | 19.0¢ | $407.2K | 2.089M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 35 | 2356142 | 19.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 19.5¢ | 739480 | 7 |
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| Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
| HZN (ASX) Chart |