You're right. There was one thing wrong in the statement. At this rate, it would be 2028, before the purchases are completed.
These are not conjectures or predictions - it's straight up truth.
Fact one: This bullshit short term-value increase-buyback scheme has been going on since June 2019. That's right around eight months.
Fact two: Over the course of those 8 months, they have purchased roughly 8.6 million shares, or an average of 1.075 million shares a month.
Fact three: The Board of Directors (made up of one person, Glenn Laken, at the time this was presented)approved purchases up to 100 million shares.
Fact four: 100 million shares purchased at a rate of 1.075 shares a month means it would take over 93 months to complete. That's March of 2028.
As for the number of shares being purchased decreasing if the PPS rises, well...if the CEO chooses to do that, he's a worse manager of the company than expected.
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