It’s an interesting scenario in itself if the company were to buy its own shares, and how high would the price rise? Currently, there is 21 million in cash, plus an additional 20 million from Fitzroy. The company’s market value is 75 million at the current share price. Who would sell their shares at these prices, and at least algorithmic trading would stop fairly quickly. I would certainly support share buybacks if the company were to decide to propose this to the general meeting. Padma bought shares back then at 74 cents, which was about 36 euros… a few million went into those purchases. Fitzroy could also start leveraging and buy shares from the market itself. We are living in interesting times.
5 Likes