NLN is a gem in a hot sector so another scenario to considerunder Delaware rules I believe the co. is not obliged to inform the market of an offer to purchase/intent to sell. If they were considering such a move it would make sense to push sp through the roof for as long as possible by reducing the float. Less shares makes it easier to manage sp which would be advantagous because the purchase price would be a factor of sp in the preceeding month or so and BV plus maybe a premium. However with a small float as it is and insiders not selling and funds/institutions not selling then who on earth is selling into the bid and why? Is the the broker doing the NCIB playing both sides of the board? If it is then at the rate of repurchase we could be range bound for another 10 months.