ABC has 100 million shares outstanding and no debt. Currently, its stock is trading at $20 per share. ABC's management thinks that the shares are underpriced, and believes that the true value is $24 per share. ABC plans to repurchase shares from existing shareholders with $240 million in cash. At the same time, management expects that very soon new information about firm fundamentals will come out and the stock price will converge to the firms true value as expected by the management.

Assume that ABC is not able to repurchase shares prior to the market becoming aware of the new information regarding its true value. If ABC repurchases the shares following the release of the new information, what is the number of shares outstanding following the repurchase? After the release of the new information regarding the true value of ABC, and following the repurchase, what is the firm's share price?