Ann: Patronus to buyback 9.66% of share register, page-4

So they just spent $10mil buying a 'strategic' investment in GPR over the last 18 months..... and for that investment they are now receiving the cancellation of 158,125,983 of their own stock (from SBM) which has an equivalent market value of around $8.3mil.... (they may have already offloaded ~40m of GPR stock before this deal) so maybe the return that got is closer to ~9m in total.... but it looks to me like they turned about $10mil cash into about $9mil..... that doesn't sound too strategic to me... or am I missing something here?