re: Ann: Final share buy-back notice - Append... Interesting...

re: Ann: Final share buy-back notice - Append... Interesting that EHL's brokers completed the share buyback program Wednesday with a huge acquisition of 13.8M shares. Not sure why they didn't spread this over more trading days. The buyback has been about 1-2 million shares per day.

Could be sense of sp rebound limiting buyback in the near future (there is a calculated moving price limit imposed on buybacks). Or may be a one-day response to a major seller dumping on the market. In any event, Thursday's price rise occurred without help from share buybacks.

Will there be future buybacks? Possibly. At this week's annual meeting, the MD stated: "Emeco will also continue with its share buyback program." (Unless "continue" is a very short term two days.) And in case you missed it, the MD also stated: "We understand that shareholders will be disappointed with the current share price given the decline we have seen in recent months."

Finally, a correction to my post on share buybacks a couple of weeks ago. Buybacks LOWER the P/E ratio, not increase it (earnings/sh increase because earnings are spread over fewer shares).