Here is an article that discusses insiders benefiting from repurchase agreements.  It didn't buy it for $32. Here is a definition I pulled off the web:

Repurchase Agreement (Repo):  Agreement to sell securities and repurchase them at a later date and specified price

Anyways, I doubt anyone is getting this tricky here, although I'd still love to be a fly on the wall and know for sure.

From googling, it seems that secret repurchase agreements are widely used but the market maker then pushes the spred wide so as not to lose money.  I don't see that here.

As you said, in the end we have to have some faith in management.  (ATV, by comparison, gives me less comfort - their major shareholder, Anglo Pacific, just sod off 1/4 of their holdings).