a share buy back, page-31

The EPS has a high probability of going up if they cancel the shares or not. If they cancel thats easy, same earnings less shares. If they dont cancel then they own shares which pay a dividend or appreciate (or depreciate) in value. As long as this is greater than returns on the money just sitting there in the bank, then it will increase EPS. If there future earnings drop, or the share price drops further then theve done some dough. So if they have a share buy back im in, (management confident its a neutral to positive thing for the company) and would prefer they cancel them as i hate big numbers, hence me not living in zimbabwe.

Am i right or wrong?