Most chief executives at listed IT groups are putting a brave face on the battering their businesses are taking on the JSE Securities Exchange as the storm in the global technology market continues to rage. They grit their teeth and hope the market will one day recognise the fundamental value of their shares.

“It`s conventional business wisdom to buy low and sell high, and the market is certainly at a low point right now,” says Baxter. “We`re more than happy to buy the group back at the current market valuations based on its historical performance.”