The $21m in RSA is not TER's cash to use as they like. the RSA operation is 49% owned by TER therefore an associate. One way for them to get their hands on it is if the RSA operation pays a cash dividend to TER. Not as easy as it sounds. The dividend is paid out of TerraCom Limited, an Australian entity. The cash needs to be held in Australia.
What is the fascination with a special dividend? Do you do something special with that dividend?
TER - General Discussion / Market Updates, page-56
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