Ann: Cancellation of shares - on-market buy-back-NEC.AX, page-3

Shares on issue were approx 876M but after the current and ongoing share buy back the number of shares on issue is now 874M, ie NEC have bought back approx 2M of their own shares which have now been cancelled.

As NEC continues to buy back its own shares and cancels them, the number of shares on issue will decrease so the value per share that you hold will increase in value and this 'should' be reflected in an increasing share price.

I would also like to note that it is good to see a company buying back shares when the company is at an all time low compared to many companies that for whatever reason seem to conduct buy backs when their company is overvalued!

I've been buying NEC and PRT over the last few trading days as I think that media shares have now been oversold and are currently undervalued. Yes I believe that they will and have lost a good sized chunk of the advertising market revenue but I don't see things getting as bad as what most are predicting.

You can do your own survey but from what I've seen, most of the population in the 40 years and above age group (ie the majority of the population with the highest discretionary income), still watch free to air television and although some habits may change over time will continue to do so for the foreseeable future.