"My opinion is that if brokers and the wider equity markets saw them doing a buy back it'd look desperate and weak and signs of a immature/unexperienced board."
That is absolute rubbish - The company has a large cash surplus and a shortage of imputation credits due to not yet paying significant tax, so dividends are a poor choice. Also the share price is on a PE basis of under 5. They have earmarket further expansion and have the cash to do it, with a lot left over. The absolute best way of rewarding shareholders is to have a buyback while the price is extremely low. What is the point of hanging on to it, unless you want to just allow the big boys to buy up cheap?
Good News & Bad News, page-12494
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Last
$2.98 |
Change
0.110(3.83%) |
Mkt cap ! $8.969B | |||
| Open | High | Low | Value | Volume |
| $2.99 | $3.10 | $2.95 | $98.90M | 32.90M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 16986 | $2.97 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.98 | 175531 | 5 |
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| PLS (ASX) Chart |