It will be determined by the sales growth figures once the buy back ends. If the growth is good the shares will be re-rated and the stranglehold of the shorters will be broken. Raising the dividend will help, as will reducing costs. But ultimately it all about revenue.
Until then as the share price is ratchetted up by the buyback, it becomes a more attractive target for shorters.
Ann: Becoming a substantial holder, page-8
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