ORA pay back to shareholders

I have had a deep review of the ORA today. A summary here for your reference:

1. Seeling the carton business for ~$1.72 billion, after-tax, net profit for the sale is ~$1.55 billion. The management promised to pay back shareholders with a total of ~$1.2 billion through dividends and share buy-back plans.

2. Dividend has been paid, $600 million in 2020.

3. Share buyback total value ~$230 million, so far ~$110 million (nearly half) buy-back done.

4. By simple math, there is ~$370 million left (This will 100% give shareholders).

5.The largest shareholder PPT keeps selling, and not the voting power dropped from 9.55% to 8.54%. At the same time, the Greencape capital (7.21%) and Challenger (7.21%) are increasing the holding and becoming the major shareholders.

6. Base on the above, I believe $3.5 is achievable in 2021.

Good luck to all holders and potential holders.