Remember that these shares are still part of the share structure as filed.
Unless changing the A/S and total shares in the shares structure, they can't be "retired". The company will hold them as normal shareholders and be allowed to sell them back as they want. If they are smart, they might do just that at homeopathic dosage not to put pressure on the pps and get higher price for what they are paying for now (or whenever they plan to buy any of them back).
I read someone saying they will buy back shares up to the $0.50 pps...
Well, if they do that, they must be expecting the pps to reach this price level and more, which woudl make me quite happy :)
Disclaimer:
Everything you read from me is under the usual IMHO.
Do your own DD as I am not responsible for any decision you may take reading my guts feelings...