Ann: Ceasing to be a substantial holder, page-5

Sometimes I wonder why it is not possible for a company to create new shares and then sell them themselves on market - after all, they are allowed to buy them back. At least then a) all the money raised would go to the company rather than a good chunk to the intermediary and b) the company would be in more control of the process to some extent. Is it just that the overhang becomes too visible an impediment to buyers thereby limiting volume or are there other good reasons that stop this being permissible?