Motive for share buyback.10 Jan 2017 21:54
Back in 2015, when there was the previous short raid, the Paysafe reaction then seemed somewhat nonplussed. JL and the BoD did absolutely nothing to defend the shareholders leaving it purely to the market to correct matters. However since the latest Spotlight incident I have been trying to fathom what JL's motive has been for directly intervening to thwart the shorters. Again the market seems to have corrected this 'injustice', so it seems to me that by reaching for this tool in the box [share buyback], JL has a more immediate motive to shore up the share price. Could it be an M&A prospect. I think there is more to this than simply trying to prop up the share price.