Quote Originally Posted by Snoopy View Post
Did you see the 'Hunters Corner' article in the NBR last week? The short summary was normally unexcisable options became activated when Origin sold out. Unfortunately for those that had the options (senior managers) they are out of the money, but only just. By doing an on market buyback, managment can inch the share price higher into the $5.20 plus range, making the options viable. Of course, if the options were then exercised this would reverse much of the value of the on market buyback for Mum and Dad shareholders! Maybe some shareholders see this as a rort, indicative of future behaviour of the management of the company, and want out?

SNOOPY
The problem with that article was the alternative that was proposed (pro-rata buyback) isn't possible under tax legislation (unless over 10% of market cap) as it would be treated as a dividend (taxable) for tax purposes.