Interesting from a new AFR article...
It's understood Vocus has been asked to consider an on-market buyback to help provide support. With the stock closing at $5.49 on Wednesday - well below what most sell-side brokers think it is worth - an on-market buyback would have to be earnings accretive.
The question is whether it has the capital to pull off such a move. It's a tough question for outsiders to answer given Vocus' many moving parts. What the company has said is that it had 19 per cent gearing and net debt worth less than 2-times proforma earnings before interest, tax, depreciation and amortisation as at June 30.
Read more: http://www.copyright link/street-ta...ybe-after-lunch-20161011-gs068o#ixzz4MuQJE4Fv
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TMS Capital feature VOC amongst favourites, page-5
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