I doubt that management weren naive enough to think that it would and that the prime reason was to reduce SOI (in which has been successful). Approx. 4m shares have been cancelled at a very attractive price when considered against intrinsic value. This may pay a handsome dividend by (i) creating greater resistance to a low ball takeover offer and (ii) giving shareholders better value when (perhaps if) 2591 gains the attention of the market outside of institutional/ shorting thuggery. Parcel passing and mates rates won't survive a genuine market wake up.
Great thing is that this company has the ammo to make it happen, even though it may be 20-24 months off.
NEU Price at posting:
$13.10 Sentiment: Hold Disclosure: Held
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