There is approximately 220 million shares freely available since 80% of the total shares are tightly held. As the price of the stock has come down considerably means at this current price could acquire 70 million shares or 31% of the free shares acquired. Approximately, 150m shares will become freely available after year of share purchase. If they decide to undertake another tranche of share purchase I think will take out the liquidity from the stock - hence minimal trades undertaken. Next week, commences the buyback each day for the entire year will acquire approximately 280k shares in buyback obviously the volume of shares will drop as a result of share price improvement. The company did state will acquire 5% on the basis of monetary will equate to approximately $20m in purchases which can be offset by the interest income. I believe the $20m is the constant value and budgeted for share buyback.
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