The company definitely had a share buy back program in place. I thought they were able to buy back up to 12mill shares on market.
I think it has elapsed now.
It's a stretch of the memory, but I am fairly sure only a small amount of shares were bought back maybe about 100,000 odd.
It was a feature in a few Anns. back when I bought this stock about 13-14 months ago.
It was one of the pros when I balanced the pros and cons. It gave me confidence in the companies approach to capital management. I love businesses that aim to spread returns amongst as little stock as possible, because it protects my stake.
To me it is not so important that only a small amount was bought back, rather I take comfort in the message management don't want dilution.
There is a Ann. about the buy back somewhere in the past 16months, I'm on a phone so is a hassle for me to search for it right now
ITD Price at posting:
58.0¢ Sentiment: Buy Disclosure: Held
