60% payout ratio going forward, page-5

Yes, I was wondering about that - except that, since they are substantial holders > 20%, are they allowed to re-acquire shares via the DRP without exemption from takeover rules? Perhaps still within creep?

Still doesn't explain why they would be so keen to both have a div and yet to keep the cash. Seems to me like major shareholders want to get cash out - although could just be part of the agreement with Collins for the placement terms.