Yep, the $5-5.5b is a theoretical maximum (10% of the shares on issue over 12 months).
But, as you say, they haven't bought a single share for (almost) 2 years now. I agree that it also looks like they have no intention of using the facility.
I strongly disagree with management regarding buybacks though (i.e. I think they should be buying back shares) - as even a cursory look at the share price and P/E multiples show that FMG is undervalued compared to peers and compared to the wider market. (I was going to delve further into reasons behind this etc. but might just leave it there for now!)
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Last
$18.18 |
Change
-0.090(0.49%) |
Mkt cap ! $55.97B |
Open | High | Low | Value | Volume |
$18.26 | $18.41 | $18.18 | $200.9M | 11.00M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
6 | 6678 | $18.17 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$18.19 | 70000 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
6 | 6678 | 18.170 |
8 | 25966 | 18.160 |
18 | 13878 | 18.150 |
2 | 66254 | 18.140 |
4 | 45603 | 18.130 |
Price($) | Vol. | No. |
---|---|---|
18.190 | 70000 | 3 |
18.200 | 20000 | 1 |
18.260 | 1788 | 1 |
18.280 | 5000 | 1 |
18.300 | 7500 | 4 |
Last trade - 16.10pm 02/09/2024 (20 minute delay) ? |
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FMG (ASX) Chart |