Its only 12m shares, or 1.3% of issued capital, but its a very interesting move.
Firstly, the CEO and founder, along with the Prima Network, are not participating. So this means that at the margin, their effective stakes in the company increase.
Secondly, it does provide a bit of liquidity in the stock.
Thirdly, it should get the share price higher.
Fourthly, given the company isnt looking at paying a divvie until next financial year (from memory), this is a form of capital management in the meantime.
All in all, I like it.
BGG Price at posting:
17.5¢ Sentiment: None Disclosure: Held
