And I don't actually think the company really wants the shares...

And I don't actually think the company really wants the shares that bad, in the short term it just reduces the market cap effectively and you are relying on the market to rerate the stock based on outstanding shares and underlying value, and with most people not even understanding how buy backs work in their true nature, that's a far reach. I reckon the buy back was simply announced to give the price a floor and get it out of the trading range it was stuck in, id be willing to bet the company couldn't care less if they get shares or not, they sure as hell aren't gonna fight for them, from their point of view the money could be used for other activities, so I think its more to give the company a better reputation and put a stop on further downward movement, which subsequently should see the share price rise on its own. All in all it's a great play if they stay at 0.015, perhaps just move it up a pip when trading stabilizes at 0.017, always one below the real volume, therefore pushing the stock and not spending a penny, best outcome I think.