I believe they are referring to a consolidation of shares to...

I believe they are referring to a consolidation of shares to reduce the number of shares on issue, not necessarily a share buyback

If a stock for eg has 2 billion shares and does a 1 for 10 consolidation, then the market cap remains the same but only 200 million shares are on issue.

if the share price before consolidation was 10 cents and market cap of $200 million, then after consolidation the share price is $1 with market cap of still $200 million and only 200 million shares on issue

this allows some funds who can only invest in shares with share prices over $1 to be able to invest in the stock

hence the stock starts to have more institutions on the register and less fluctuation caused by day traders who prefer low cost shares