Ann: VTG Financial Results 1H FY21 - Announcement / Presentation, page-13

Mate, TLS has the cash.
TLS dividends are propped up with land and building sales.
For example, the land at the front of 300 Exhibition st Melb (Exhibition Exchange) was sold 3yr ish ago for 99mil. Ie they just sold the front garden and the unused round house...
They have heaps of land and buildings - eg large parcels of land still at the GOC etc.

As more staff are made redundant, more land and buildings will be made available to cash in...

100 mil is no problem for TLS. They will just sell a small parcel of commercial land/building to cover it...
VTG will be OK.

I see a potential upside where the VTG Business ICT will be able to partner with another carrier once released from the contracts.
TLS may foresee this and fire up a new contract towards the VTG Business ICT. Who knows!

Also, if VTG ends up with 120mil in cash and 155mil market cap + skin care taking off. I wouldn't be surprised if a takeover offer is received. 2 bucks a share???

Maxine is doing her job and steering the ship through the storms just fine.
VTG share sale remorse???