a non performing asset off the books converted into 12 month escrowed shares.... cambodia asset off the books .....
But the Buy Back still has almost $43 M to be spent ...thats a lot of shares...and the lower the price ...the more shares they get to buy back....... overall depressed markets sentiment...end of Aust tax year always a dampener....
company will focus on operations not the share price...so this buy back will not under pin the share price...said this a long time back.... but have to say for an income producing company this will get better...... the price is now at the equivalent of 88.5c approx pre reconstruction......
but liquidity is poor and will get poorer as the buy back progresses........
but the dividend per share will be enhanced by the lower number of shares on issue....and extra value achieved by buying at new low levels.... depends on an individuals objectives longer term.... sitting to see where the dust settles.....
Rsg going through the same phase now...a buy back...big price drop...no under pinning of the share price by the buy back.....
OZL Price at posting:
$8.84 Sentiment: None Disclosure: Not Held
