I think we received the same reply. I'm a bit wary about this...

I think we received the same reply. I'm a bit wary about this statement: "We will only buy shares if the Board considers it wise and warranted to do so." This sounds uncertain to me.

If the share price is undervalued (as stated by the company) why the potential uncertainty? The buy back should commence immediately to instil some much needed confidence, and to demonstrate that the company acts on its word.