A lot of the info and so called calculators are on the Westpac.com.au/buyback site . Ostensibly the design was to discount the buyback price at 8-14% range , with great largesse moved to 0 to 10%. They touted the price drop good in a sense as now more shares could be bought . Unbelievable rationale ! Seeing that they already have their discount thanks to price bombing up to 25% at one stage just buy back at 0 % and offer a dividend to ameliorate the shitstorm they created. On market buyback at these prices is a great discount to when scheme was announced . That will help put a floor on the decline and charge the price correction back to proper levels and result in more than expected shares being removed . What really scares me is they won’t acknowledge how they are responsible for the price drop because they created a scheme most unsuitable to their loyal shareholders. One wonders if the price would be as low as it is now if they had commenced an on market buyback in Nov. Then the extension came and precipitated more uncertainty which the market loves.
WBC Price at posting:
$21.11 Sentiment: Hold Disclosure: Held
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