It's standard wording for 10/12 share buyback.
You can have a look QAN, FMG's buyback announcements.
If they think share price is very low, they would buy more, might stop buying if share price is higher. i.e FMG bought $140m during first two months, then stop buying while share price went higher.
BIN, IPO price was $1.80, CEO subscribed $20m at $1.90/share, and $72m at $2.54/share.
The question is at what level the management think it's reasonable.
The net debt after the completion of DADI takeover, would be around $200m ($377m + transaction costs $23m - cash $140m - $60m from sale of the asset). EBITDA post acquisition would be around $174m without considering $15m savings.
As peer comparison with CWY, it looks good, imo.
It's standard wording for 10/12 share buyback. You can have a...
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