The question is if the company as a whole is moving along just...

The question is if the company as a whole is moving along just fine and there is no need for a CR based on share price why would they waste effort trying to move the share price. Stock buybacks are a great way to temporarily prop up a share price by artificially reducing supply but if the discussion and the price is being driven in the emotive way that it is then that will soon come to nothing except a waste of free cash that could have been used for something else. Its the same as when people here talk about how the company should be giving out one off dividend. Why would they waste capital on that as a growing company that has other places that it could invest its money to.

Directors have a responsibility to the long-term good of the company and whilst in recent times many have received incentive packages that have rewarded the kind of short term thinking that you seem to want it would appear in this instance that as a cashed up company GXY is more than willing to just truck along doing what it needs to do and letting the results speak for themselves.