"I believe a company can call in there own prefered shares any time. As for common shares they can buy them on the open market like anyone else. Please correct me if I am wrong"

Retractable prefered shares may be 'retracted' any time at the holder's request, usually at a price equal to issuing price + a premium or not.

Redeemable prefered shares may de 'redeemed' any time at the company's request, at a price equal to issuing price + a premium or not.

Common shares (like the one we hold in Noront) are usually not retractable or redeemable. But they can be bought back upon an offer made to the holders, and accepted by them.

But there are accounting and solvency tests to achieve, and those buy-out can only be made out of accrued profit, and cannot infringe on the capital of the corporation.

A company can never buy and hold its own shares (except in certain specific and temporary situations). So 'recalled' shares are always disapearing from the Share capital, and the Outstanding Shares number dimumishes.

Hoping this may be of any help. And any correction to the corrector's corrections are welcome...

GLTA.

BB.