current sp and buyback strategy, page-18

Looks like IOH management read HC.

Fosters is now playing this buyback smart. Let Mr Market beat her down & use our cash to buy back the maximum number of shares for the least amount of cash possible.

Let the weaker hands and the market players sell into us, but don't just rock up every day with an open cheque book because it's too predictable and inefficient.

150K shares picked up yesterday around $1.20 is fantastic for the buyback, and fantastic for holders.

These Greek/EU issues are big and will take some time to work through but if the market takes 1-2 years to fully recover that's actually perfect timing for IOH as our projects are realistically 2-3 yrs from being unlocked in terms of value.

It's not the short term bang we all hope for, but medium-long term IOH will deliver the returns IMHO.