MIG a.c.n. 059 457 279 limited

MIG has been dropping back because the on market buy back hasn't...

  1. 2,541 Posts.
    MIG has been dropping back because the on market buy back hasn't been resumed after a pause caused by the DRP scheme. Rule 7.33 only allowed them to buy up to $3.77 at the time of the last share buy back notice. When the price raced away during the DRP period they could not conduct the buyback when is was to resume. They are letting it drop back a bit further so they can get a good number of shares under the 7.33 limit. Once they have bought to this level they can pay more for the next tranch.

    The buy back is going to go on for years so the stock is a fairly low risk bet. But those interested in a bit more risk might want to try an option that expires some time after the end of March. You could pick up a profit over the next 7 days.

    Of course you could lose it all as well!
 
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Currently unlisted public company.

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