say now in best interests of shareholders

If this management is fair-dinkum about its shareholders, it should be upfront and give members some likely or indicative range of what they could expect as a capital return if the proceeds materialise. This would avoid anguish and uncertainty for investors over another drawn-out period. Failure by directors to disclose intentions earlier rather than later in these circumstances could affect investment decisions of many interested parties.

To act in the best interests of shareholders, I believe the management of this company must openly indicate now what the likely form and amount of return to shareholders could be by the done deal (subject to approvals). After all, they have had plenty of time to prepare for this event, and have paid lots of advisers and consultants so far. Surely someone along the way would have already investigated this.