Caylus, 10% buyback can be initiated immediatly. Anything greater than that needs shareholder approval.
Spending all their cash on a buyback will not be viewed with favour by the analysts. Sometimes you need to play to your audience and make sure that you manage perceptions!!!!
A company will never initiate a buyback to put a floor in the price, it is just a nice side effect of a buyback for shareholders.
The buyback is done because a) it is the best investment you see for the cash you have b) you do not have the franking credits for a higher dividend and it is a way to return cash to shareholders.
HT1
OZL Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
