They can buy a maximum 10 percent on market which equates to...

They can buy a maximum 10 percent on market which equates to roughly 4.5 million. I note in previous years they have only bought back less than 1 million.

Under normal circumstances you would only buy back if you thought your capital could not earn a better return deployed elsewhere. I suppose these guys are debt free with plenty of cash so have to do something.

I can't help get the feeling something is up. The trading of late is odd, there is a new CEO and he has options exercisable at much higher price than we currently have. Last half's profit was up a bit on previous period. I know there are market risks with their products as technology changes but they still appear to be on track for 6 cents a share earnings. The revenue streams may be under threat but they don't disappear overnight. I also get very suspicious when CFO's leave particularly when new management arrive. I don't mean that is necessarily negative just reinforces to me that something is up.

Wish I had a bit more info. If someone showed me another debt free, cash in bank share with a p/e of 4 I would be there in as long as it takes to load up etrade buy order.

Its a funny old world