what is your guess as to what sort of price will be acceptable to Crescent? These guys normally look at making fancy profits and they have to cover a few years of interest/holding costs? If $1.40 is break even, I would have thought they would want $3.00, unless they are just happy to dump at a bit more than break even and hope to do better next time - wouldn't do much for their reputation though.
Ann: Daily share buy-back notice - Appendix 3E, page-36
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