Ann: Ceasing to be a substantial holder, page-8

Mgt can't really "get more aggressive in their buybacks". The rules prevent aggressive buybacks.

SP is languishing, not because mgt are doing or not doing something, but because there is a hearing at the Court of Appeal scheduled for 20-22 Aug. Investors don't like uncertainty, especially that kind, so just get out or sit on your hands till August.

Even if the hearing goes against BRL, the downside appears to be strictly limited, so the intervening ~6 months are a marvellous accumulation opportunity. Many I think will accept the gift.