Wolf Pack ... so far , so very good!, page-27

Hi mate

The buy back hasn't changed as such. The quantum of shares to be bought back that don't need approval from shareholders has fallen from 500 million to 350 million .

They don't need approval from the T20 to proceed past the 350 million share mark in the buy back, ALL shareholders shareholders get a say. I am not familiar with the corporations act on this so don't know whether it's a case of approval of 50% of the shares voting, or 75%.

I doubt very much they won't get shareholder approval considering shareholders have been screaming for proof management care about them, and one of the benchmarks for this " caring about them " has been shareholder desire for a buy back.

The question will be more, will BRK seek this approval to go past the 350 million mark, or will they even get to it? The board/ management would have set a target on the spend they would want to do in terms of balancing the capital needs of the business vs spend on the buy back... if BRK shares appreciated to say 3 c, would the company still proceed for the full buy back ?

Cheers

Dan