The board authorized the company to purchase shares.
"The program does not oblige the Company to repurchase any shares and it may be modified, suspended or terminated at any time and for any reason. " There is no necessary contradiction here. The management may feel that they are still opportunities to pursue. If the book value is 7.28 per share, then the current price is 7.9% below book value. In the last 7 month, insiders have been adding shares. The shares will easily move back over $7 a share where the annual yield will be 13.7% (assuming 8 cents a month distribution).