RE:NcibNCIB releases are standard fare. Buying shares is dependent on the capital allocation plans of the company. They did go through a period of significant uncertainty, suspended the dividend, raised capital from their LOCs and waited out the storm.
Still gob-smacked that MTY was selling for 4x normalized free cash flow in March 2020. It remains undervalued based on expected normalized earnings going forward. Having a loss year has done little to change the intrinsic value of this company and some of us were able to pick up shares in the mid/high-teens. Now looking forward to compounding at more regular rates.