Awwww, BRETTO, I'm sorry, I didn't realise that you were such a sensitive soul! Hopefully GFM won't object to being relegated to second place in this post.
I do recall a lot of posts relating to WM implementing the buy back to prop up the share price, although that doesn't, of course, mean that it was the company policy. But it all seems so pointless in light of the quote that GFM posted (#9792779) where the company says that it replaced those shares as the market improved. The company hasn't actually made any "profit", or "gain" at all. They would have been able to issue those shares at that price anyway, because the market had improved, and would still have had the other $48.2m in the bank as well.
GFM, I haven't read, nor was I aware of that article and CDU's response. But the current share price certainly is relevant if the company decides to raise more funds through equity. The comment about it being outside the fiscal year for transactions is just weird. The auditors wouldn't have a problem with it - why would they?
CDU Price at posting:
$1.95 Sentiment: Sell Disclosure: Not Held
