Gday JoshThe purpose of a buyback is not to increase or support...

Gday Josh

The purpose of a buyback is not to increase or support the shareprice it is a capital management strategy designed to reduce the number of shares on issue thereby increasing earnings per share etc etc

For a company (and its shareholders) it is beneficial to be buying back shares as cheaply as possible.

IMO this Buyback has been conducted very well so far and will benefit shareholders in the long run particularly if they choose to return a dividend at some point