RE: Buybacks10 Aug 2018 14:08
It was just a simple exercise Lastcall to use £1bn of cash to buy back, what was at the time of the announcement, 2.2% of the share capital.
I guess you can call it a success when the buyback is complete and all £1bn has been used.
Just because the share price is not as high as some want including myself, I would look elsewhere for reasons - Brexit uncertainty, a lower interest rate future, more PPI provisions etc etc.
I guess when people like Jamesroo can’t think outside the box, they look for something tsimple to blame that they evidently don’t understand.
The 2008 share awards were going through anyway (415m shares). The buyback is 4 times that amount (approx 1.6bn shares).
I’ve said before, this buyback is relatively small in the grand scheme of things. I really don’t know why some get so hung up on it. Maybe it’s because they want something to blame because they really don’t understand what’s going on with this share.