I had also thought the buy back price had to be set at the...

I had also thought the buy back price had to be set at the outset and the notice which I saw last night surprised me.

As a result, I read up on the ASX listing rule relating to share buy backs and teh way I read it, a company can continue to buy for up to 5% above previous 5 day average.

The only restriction is the quantity of shares which they can buy back on market and this was defined in the notice when first announced.

The company can buy back another 9.5m approx


So with all the cash that NBS have, they could in theory buy all 9.5m+!!


The reduction of shares on market is a win for me as a long term holder.


My guess (and it is just a guess) would be that the 100k and 160k at 32c and the 100k at 31.5 today are all buy orders from the company. Hence placing a floor on the share price at current strong resistance levels - nice knowing that there is a potential buy order for approx 9.5m-10m shares.


I read last nights notice as very bullish as a holder.