To be honest, all I care about is a share buyback. Nothing else.
They have paid high multiples for their previous acquisitions, yet they don't want to buy their own stocks? They are the only ones who know exactly what their shares are worth.
Surely this says it all.
They say other acquisitions are too expensive now but they now have the chance to buy their own stock at a bargain multiple.
Surely that’s the best investment they could make right now.
The resulting rise in share price would ultimately allow them to reissue stock at a much higher multiple later to fund acquisitions.
They expect Bromine prices to be flat for a time so they have time to support and build up the value of the stock without any need to worry about spending on more properties until after the stock is worth a lot more to sell in a raise.
If they are not buying their stock at less than 2 x earnings they are not kosher IMO.
Especially since they are being advised to do so by CGR/ Coulson and by now even the most out of touch chinese managements are aware of the need to do something to show Mr Market they are what they claim to be or their mark cap gets decimated.
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