Ann: On-market share buy-back, Appendix 3C, page-9

Here is something I found on Investopedia about it which applies to BHD. Sounds like they are removed from the registry then reissued

Another major reason why businesses repurchase their own shares is to take advantage of undervaluation.
Stock can be undervalued for a number of reasons, often due to investors' inability to see past a business' short-term performance or sensationalist news items. If a stock is dramatically undervalued, the issuing company can repurchase some of its shares at this reduced price and then re-issue them once the market has corrected, thereby increasing its equity capital without issuing any additional shares.

Read more: Why Would A Company Buyback Its Own Shares? | Investopedia https://www.investopedia.com/ask/an...pany-buyback-its-own-shares.asp#ixzz5GCUkghgo