RE:RE:Plain and Simple Also interest savings + dividend savings ~ lost cashflow from asset sale.
But I hope the bigger reason is to merge with LCFS ie own it 100% in which case paying dividends makes the exchange weaker (Enterprise Value ie dividends is cash out) while buying back shares improves it (less shares) ( the 2 companies would be subject to valuation opinions regardless). This would not be about screwing LCFS shareholders over but rather the TWM board's duty to act in the best interests of TWM shareholders.
I didnt enjoy TWM with so much debt and I dont enjoy the LCFS structure.