Call me stupid, call me dumb, but I still can't reconcile the simple maths :
NTA 30 June 2023 119c
Less
Dividend to be paid 20 Sept 11
Capital Return 90
____
Available to Distribute 18c
There are also surplus franking credits sufficient to pay an additional fully franked dividend of 12c per share at a franking rate of 30%.
So why propose delisting when there is 18c per share of unrealised value plus sufficient franking credits for an additional 12c dividend.
What am I missing ???
DYOR
IMO
Clare
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