Clo announce a share buy back with the publishing of their...

Clo announce a share buy back with the publishing of their annual figures for 1 million shares, buy 400k, tell the world next year's earnings are going to be down 20%, which happens to be the same amount the shares fall within 2 days of said meeting, no support from the share buy back - who benefits from the share buy back. It seems a little short sighted to me.