They initiated a buyback for 51m shares. They bought 7.4m shares (or thereabouts) by 30 July and appear to put the buyback on hold.
Highest price paid was 15.5c lowest price 11c.
They appear to have halted once they found a suitable merger candidate. Seems like a pretty reasonable strategy.
If the scheme falls over they can continue buying back stock. If it goes ahead they can cancel the buyback.
If you don't like management why don't you sell?
good deal or bad deal, page-20
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