BUYBACK UPDATE 2/09/2024 Great day today, went out at around...

BUYBACK UPDATE 2/09/2024

Great day today, went out at around lunchtime when it was deep in the red and pleasantly surprised to see it had rebounded strongly by the close. The buyers clearly aren't done loading up after that absolutely phenomenal set of numbers

In terms of the buyback, today the maximum price for a buyback was $15.29. Given that the low today was $15.03, they could certainly have done at least a small buyback today prior to the rebound. Regardless though I think today was genuine buyers once again continuing to load up in response to the strong results last week. For tomorrow, the maximum price will increase to $15.51. Once again, this is below the close price for today so if we get another strong green day tomorrow there won't be any buy back (but the higher maximum price of $15.51 should provide very strong support well above $15).



Volumes have lightened up a bit. This is fairly understandable given that the release of results last week naturally caused larger than usual volumes.




Additional notes

• A company may only buy back shares at a price which is not more than 5% above the VWAP, calculated over the 5 days prior to the day on which the buy back was undertaken (Listing Rule 7.33)
• VWAP calculation takes the sum of each day's average price (high + low + close)/3 multiplied by the volume for that day, then divided by the total volume for the 5 day period.