it smells .....and is perhaps a mechanism to allow some instos to exit without cratering the share price .........
bit like Calibre Group .......
and - "IF" they were to find an "attractive" acquisition - how the heck will they fund it (post 23m FPO buyback) .............
pretty clear there will be some sort of write-off ........
bit sad really ......
rgds
V_H
Ann: Hills extends Buyback, page-6
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