There are 4 ways the company SEN can use the cash Just keep it...

There are 4 ways the company SEN can use the cash

Just keep it in the bank
Share buy back
Pay a Dividend
Use it for an acquisition.

The management of the company need to decide what is the best way to enhance shareholder value. Just sitting on your hands is not a viable option.

CSL in its wisdom has decided that a share buy back is the optimal way to enhance shareholder value. In the short term I would suggest that this should be an approach that SEN should consider. If and when they identify a suitable target for acquisition, then a capital raising or debt to fund the acquisition should be a viable option. That is unless they have other plans which I and other shareholders know nothing about.