Ann: Notice of Annual General Meeting/Proxy Form, page-13

goodaye Humble - the Exp Statement says "the Company will commence an on-market share buy-back program to acquire up to 10% of the Company’s issued capital over the next 12 months, equivalent to approximately 20,637,237 ordinary shares..."

so 20.6m shares at 23c = $4.7m say A$5m

at end June coy had US$26.9m so about A$35m
coy still burning US$2.3m from operations last month - so A$3m p/m

so 6mths to Dec cash could be A$35m less buyback A$5m less 2mths neg cash flow of A$6m = $24m
then maybe still negative cash flow at March Qtr next year? so another outflow of A$2m - A$3m?

there are 215m shares so cash backing now A$0.162c (16.2c)
after a buyback of $5m cash backing falls to below 14c
if YOW still cash flow negative at end Dec 17, cash backing could be down to about 10c - 11c.

this Buyback theory is all predicated on YOW becoming cash flow positive, to offset the cash spent on the Buyback.
YOW simply has not reached that milestone yet!

This proposed buyback is just a short term fix to satisfy some Fundies who are staring SP losses in the face. Maybe it affects their fundie bonuses?

any support for SP will be short term, and once the Buyback support of SP ceases, then the mkt will again determine the price. If we are still cash flow negative, then the SP will again reflect that.

VOTE NO to just about everything !

all just imho
cheers