This is entirely misleading. They don't have to get any off the market to go to 900mm because they only have ~700mm outstanding.
They may be picking up shares off the open market to bring the 700mm OS down to 500mm then add additional retirements of RME to get to around 200mm. However, I personally think there's as good of a chance that they simply retire RME shares for the bulk of the 250mm reduction of the OS.
We'll know when we see how many shares are left in RME. If we have a 500mm OS and over 300mm left in RME when the yearly hits. That will be the most ideal situation you could ask for.
We'll see... But, there doesn't have to be one share bought to reduce the AS from 2.5B to 900mm
Cannibals prefer those who have no spines. Stanislaw Lem
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.