Ann: Minimum Holding Buyback Program, page-12

So, today is the final day holders can notify the company they want to participate in the minimum holding buyback program.

I would therefore expect an update on how the program panned out, let’s say in coming days.

On the market, it’s been another dismal week for CM8, today down 4.4% at 6.5 cents although the session still has an hour to run.

At 6.5c, the stock is down 73.5% from its 52-week high last spring time at 24.5c. In the absence of any news, it isn’t likely to go much lower with a buy order for 180k shares at 6.5c.

SP declines of this order often indicate a company is going to slip out the back door and cease to exist. That’s because the SP can be seen as an indicator of how well a company is performing. SP inexorably sliding, company not doing well; SP rising, company performance improving.

This of course assumes the market in a company’s shares is well informed.

Many would argue that the market in CM8 is poorly informed, partly due to the shift to formal half yearly reporting now from quarterly reporting previously. And that this lack of information is undermining how shareholders and other investors rate its performance. This isn’t rocket science.

A logical sequence follows from this. Does the company care about its SP? Do they know why there has been such a huge decline in the SP? Can it do anything about it if it does care? Is waiting for the annual accounts by Aug. 31 too long to wait for a business update? Can the board and management be bothered keeping the market informed?

The update on the minimum buyback program that I expect in a few days could provide an opportunity for an overall busuness update. This could inject some life into the SP - a shot in the arm, as it were.

I hope the board sees fit to provide such an update. I want one. I wouldn’t bet any money on it happening though, given the company’s ordinary performance in this regard so far.