It is the company's responsibility to invest their (our) money to maximise shareholder value. If they believe that the share price is undervalued, then they are obliged to consider how best to address that. If that means buying back shares at a minimum 40% discount to what they (and the consensus of brokers) believe is fair value, at the expense of possibly needing to borrow additional capital in the future, at say 5% interest, that seems to be a pretty easy decision to me. In fact to do otherwise would be an abrogation of their responsibility to shareholders.
