Ann: Daily share buy-back notice - Appendix 3E, page-5

Couldn't work out if Wazza was being facetious. Shares are purchased by the company on market and then cancelled. i.e if there are ten shares in the company and the company buys 4, then 4 are cancelled and 6 remain. It allows a company to essentially trade cash for a share that they think is undervalued. i.e if a share is inherently worth $2.00 and the company can buy and cancel it for $1.80 then they have made a 20c paper profit for all shareholders and the market capitilisaiton should therefore be 20c higher..