1. RE: You are right on the OSH buyback - my broker still did not have the ASX release on its site when I posted the message. That being said, the buyback has done zip for the share price, or maybe it would be in the mid 50's without it.....
2. As far as VRLPA is concerned, I have posted many times about what I think of VRL management and the BOD - basically they are the same. I won't saying anything more, but my opinion would probably get me in a lot of trouble if I posted it here.
IMO the BOD have been implementing a plan to drive down the price of both the common and pfd in order to increase their control at a cheap price.
The pfd seems to be getting hit the hardest because it has certain rights regarding both the dividend and a conversion right in the event of a takeover.
If the BOD can get away with not paying a dividend on the pfd, they can drive the price down as low as possible in order to buy (redeem or maybe issue a new none dividend paying share w/o the conversion rights/dividend rights).
A newspaper article has already quoted them as contemplating such an event. Yet, one of the reasons for eliminating the dividends was to shore up the balance sheet. Doesn't make any sense at all: No money for dividends yet more than enough to buy back the pfd of course it is a lot cheaper at 70 to 80 cents than at the price of $1.45 just prior to the announcement of the dividend.
IMO I would not trust the Kirby's with anymore of my money and as soon as possible I am going to get rid of my shares.
Investing with those people is a bad risk.
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