Don't know much about these guys - but seems like a positive announcement.....
NZMC_Earnings_Guidance_18_March_2021_FINAL.pdf (usx.co.nz)
Website: The New Zealand Merino Company | Home (nzmerino.co.nz)
Last AR: fdb7ce_e7b7bda91b8b4825b27bde0d0fb6a94d.pdf (filesusr.com)
Issuer Profile: NZMC_Issuer_Profile_2020_Final.pdf (usx.co.nz)
CEO is the largest shareholder. Only 40-odd thousand shares traded in since listing in Oct. Looks like about 5.3m shares on offer - just bought back 600k at $3.80 and price is still $3.95.