Share buy back makes sense if TO panel use powers to vest shares in the Commonwealth for sale.
If the company buys the vested shares and cancels them then it has less net effect on the make up of the share register. I’d say the company has held back enough fire power to get this done if they want to. The other annoying thing for the pitchfork crowd, if this were to happen, is that when AISC sells the vested shares, the owners receive the proceeds. ie in effect the TO panel issues orders to vest the shares with AISC for sale, AISC puts the shares up on the market for sale, the company uses the buy-back right to buy the shares and cancels them to reduce the shares on issue and the proceeds of the share sales are returned to the Billis controlled companies, then the Billis controlled companies use the money and creep provisions in the corporations law to work their way back up the register.
5,000,032 shares would go quite a long way to buying back 8 million shares.Esh
