Doesn't a company need to pass a resolution at a general meeting to allow share buybacks? I may be wrong but in that case, the directors cannot do it willy-nilly.
Also, the fact that at the end of the last financial year they only had $4.2M cash on hand may have some bearing, because to lift the price from 10c to 11c (all things being equal) might take $18M on an negative dilution basis?
Need update, page-24
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