The AGM was a snow job. The buyback will be a poor excuse, but...

The AGM was a snow job. The buyback will be a poor excuse, but will not affect the SP until some good results start coming out. Its about profits, not NTA per share. I see companies trading at many times their NTA if their profits are really good, and I see companies trading at less than NTA when profits are less than adequate. So I cant see the buyback being of any real moment. I would prefer they retain the capital. Another CR will be a total failure if that becomes necessary and will have to be at 60 cents. That will drive the SP even lower.

There will be nothing major going on until the new CEO takes over, and even then that will take time before she really takes up the reins. So I see the SP sliding over the next few months. The only thing we can hope for is a takeover, or we will just have to wait another year and a half, for any glimpse of recovery.

Mind you easy to lose clients and mandates, as well if you have the right confidence, best staff and market knowhow, these losses could be made up and more. That's in theory anyway.

Just have to sweat it out now for another 12 months. Have to also pray on the abilities of the next CEO.