RE:RE:Buyback???In my experience, usually when companies want to buyback a large amount of shares they do a SIB. Often there is a dutch auction, with prices over a range. Look at HCG for the latest example. With a SIB, shareholders get to decide if they want to sell their shares, in this case, it is mandatory.
I would like to hear management's explanation for this approach. It seems very unusual to me. Also, they have announced that 78% of shareholders have already agreed to it. So at least 78% of shareholders were informed of the plan before it was made public? That doesn't seem right.