I think an error has been made in the number of fully paid shares quoted in this announcement - they seem to have used the figure prior to the previous buyback.
By my reckoning, there are just short of 122m fully paid shares on issue now.
To double check this, you can work out what 16.5% of the fully paid shares equals in the current proposed buyback, and it should be 20m.
Ann: Announcement of buy-back - Appendix 3C , page-2
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