  This paper introduces a novel methodology for the pricing and management of
share buyback contracts, overcoming the limitations of traditional optimal
control methods, which frequently encounter difficulties with high-dimensional
state spaces and the intricacies of selecting appropriate risk penalty or risk
aversion parameter. Our methodology applies optimized heuristic strategies to
maximize the contract's value. The computation of this value utilizes classical
methods typically used for pricing path-dependent options. Additionally, our
approach naturally leads to the formulation of a $\Delta$-hedging strategy and
disentangles therefore the repurchase strategy from the hedging of the payoff.
