increasing earnings per share /fy11 loss

I love these guys.

Firstly they forecast a loss for the year and blame exchange rates. If they made a profit the story would hold up but not a loss! They are so used to using the same excuse they forgot that the maths didn't work in a loss.

Obviously the Directors recognise that at its current share price that the company is undervalued hence justification for investing company funds. The fact that they are seeking to buy back 10% and thereby increase there own respective stake in the Company says a lot.

How better to increase your stake in the company on the cheap than to undersell the company on the market.