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Directors would be against it because buying back shares while...

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humble69

2,260 Posts.

10

16/10/17

11:08

Post #: 27927369
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Originally posted by Sydney_Slider ↑

The buy back is the smartest thing i've seen come out of this company for a long while.

Cash came in at 90c and they are buying it back those shares under 25c! What a trade.

The directors should be taking pay cuts until they get the company profitable and hit their targets. Once the company IS making profits (FY19 ~$5m?) the re-rating will only be exacerbated from the buy back (less shares on issue = higher share price for the same valuation).

Better than it sitting in cash earning nothing or being used to pay exorbitant director salaries!

Only reason i can see the directors not supporting it is they don't back themselves to get the share price up!

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Directors would be against it because buying back shares while losing money is madness. The only company I can think of that's ever done this is Cudeco.

YOW Price at posting: 24.0¢ Sentiment: Buy Disclosure: Held
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