Target $18.72, page-127

I picked up around 10K shares on Friday, for around $9.16, wish I waited a few days lol, spent all the money . Picking dips and peaks requires talent, well done to those who saw that coming. Money and business are like war, it doesn't always go according to your plan so adapt, improvise and overcome. Our long-term battle plan is strong.

BB look set to pick up around 2 million shares today. Reduced 5-day average will see us mop up most of the remaining shares under 10% plan this week, I can't help but see this as divine intervention to help complete the BB before the blackout period. I really hope the off-market buyback sees all 240M shares bought back within 12 months of approval. Using the $1 Billion loan facility to achieve this at a lower SP would be to our benefit in the long term, time is of the essence before the market overvalues the SP just as it undervalued it 2 years ago.

If they buy all 240M at an average of $13 it would cost more than the NPAT that we will see this FY. In theory, if we had the cash, we could buy back all 240M in 12 business days under the off market buy back given that WHC average daily volume is around 20M shares. If we apply conservative BB expectations (such as 10% max of daily volume like with an off-market BB) we could see all shares bought back within 6 months. This would be ideal, market is slow to respond, buy the shares back fast and let the market do the catching up, use blitz tactics. All IMO.