Ann: Prospect sells interest in Arcadia for US$378M, page-354

I do strongly believe the money will be distributed to shareholders via a capital return combined with a share buyback. Arcadia is an asset that will be disposed of for a capital gain. Hence the Zimbabwean Capital gains tax being applied to the company. PSC isn’t a producer yet so has no income stream, hence unfranked dividends would not be appropriate & I believe we will find the ATO will rule in this favour. PSC are paying millions for this tax advice so I guarantee it will be favourable for all involved.

Until the uncertainty clears up though PSC will continue to trade sideways. Once we get an announcement (January sometime before the general meeting) we could end up back near 90c-$1