The last notice of a buyback was on 17th April. Since then the daily buyback has been zero.
At this rate the buyback, that Peter Kerr, said was to reward shareholders, in lieu of an unfranked dividend, will now be flat out to achieve anywhere near 5%.
It would appear that the BoD have scrapped the idea of a 10% buyback altogether.
It would have been nice if the BoD informed investors that the BoD have changed their mind.
MGX Price at posting:
31.0¢ Sentiment: None Disclosure: Held
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