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16/09/19
17:06
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Originally posted by Jukebox45:
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The only other thing that might get taken into consideration is the franking credit; there's $12.65 + 0.60c on the table in cash, but that 60c comes with a franking credit - assuming like past dividends, it is 100% fully franked - that works as a tax refund/offset next June. So in theory, it could bubble above $13.25 - even without a counter offer (but not by much, I concede) *** Someone asked about the timing: Schedule 4 - Timetable Event Date Execution of this deed 15 September 2019 Bellamy's submits draft Scheme Booklet to ASIC 14 October 2019 Mengniu to execute Deed Poll 25 October 2019 First Court hearing for Scheme 29 October 2019 Bellamy's sends Scheme Booklet to Bellamy's Shareholders 1 November 2019 Scheme Meeting 4 December 2019 Second Court hearing for Scheme 6 December 2019 Effective Date 9 December 2019 Scheme Record Date 17 December 2019 Implementation Date 24 December 2019 *** Someone else asked how this works in practice. I went through this with a company called Mitula $MUA just last year - a 20c/share arbitrage opportunity at the time - it was seamless. The shares were withdrawn from trading on the ASX, and the funds appeared in my transaction account within 24 hrs.
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So on 24/12/19 is when they delist BAL? Where's the FIRB in all of this? I doubt they would block it as there a many other formula makers in oz vs TPG and vodafone which controlled a fair share of the market.