Serena - the buyback is still in plan for the 12 months period.
However, the management has decided not to do any buy backs temporarily pending the Canadian listing. They want to have a firm date at hand for the IPO and this is all down to working capital management.
Ie. If the listing will take longer than expected, Nova will have to fund the exploration plan upfront and hence cash will be required. If the IPO can happen around the same time as when the drilling, then it can be funded out of the proceeds from IPO.
Temporarily halting the buy back given thr scenario at hand is a prudent move which any good management team will do.
Ann: Investor Presentation - Nova Positioned for Growth, page-166
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Last
21.5¢ |
Change
0.010(4.88%) |
Mkt cap ! $38.96M | |||
| Open | High | Low | Value | Volume |
| 21.0¢ | 22.0¢ | 21.0¢ | $46.44K | 217.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 50000 | 21.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 22.0¢ | 24951 | 4 |
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| NVA (ASX) Chart |
