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General Comments / Chat, page-6078

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tigers2008

1,654 Posts.

635

10/11/22

12:14

Post #: 64691639
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Originally posted by tigers2008: ↑

I'm a bit confused, which I've stated before is becoming more and more common.

1. On market buyback was announced 9.6.22 with RAC stating they have capacity to purchase upto 4million shares over the next 12 months. I understand this was to occur at a price RAC deemed below what they considered fair value.
2. Price at time of announcement roughly $1.70
3. Most purchases around the $2 mark so I'm making an assumption RAC had close to $8 mill to use, I'm going to halve that just to be sure I'm truly confused to $4mill.
4. The company states often, we only raise, use, what's needed, the rest is yours so we return it. That's the whole purpose of the buyback, less soi so win win for shareholders.
5. We've spent roughly $1.3 mill on roughly 635k shares
6. Cutting in half figure was $4mill
7. Why are we not purchasing at this level when we all believe the share price will be higher once our clinical data drops.

My confusion comes from the rhetoric of "it's the shareholders money so we return it if it's surplus" we are fully funded for our current clinical pipeline, start returning it.

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I'll add our last buyback was 6.10.22, over a month ago.

RAC Price at posting: $2.26 Sentiment: Buy Disclosure: Held
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(20min delay)
Last $1.42		Change 0.000(0.00%)		Mkt cap ! $246.3M

Open	High	Low	Value	Volume
$1.43	$1.45	$1.40	$108.3K	76.53K

Buyers (Bids)

No.	Vol.	Price($)
5	14331	$1.41

Sellers (Offers)

Price($)	Vol.	No.
$1.45	11181	2

View Market Depth

No.	Vol.	Price($)
5	14331	1.410
1	2100	1.405
3	20595	1.400
1	1000	1.380
1	5000	1.370

Price($)	Vol.	No.
1.445	11181	2
1.450	38352	1
1.480	3055	2
1.500	17040	2
1.520	6000	1

Last trade - 14.07pm 15/11/2024 (20 minute delay)

RAC (ASX) Chart

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