Its got me beat also, except if the seller needs cash urgently. The buyback is to start by management next week so we should then see some price rises.
If it drops to 16 I will add to my existing holding as this seems a no brainer to me. It will be interesting to see the price limit management are prepared to go to.
the other aspect is that after the buyback the company will still have a lot of cash and less shares. Maybe its worth holding onto.
22c cash per share, page-4
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