They are also seeking ATO ruling over distribution being a capital return event. Below is from the 27 Feb announcement, so we might get some information from the tax office in the next month on the ruling.
For my perspective the ruling is key as to whether I sell on market now or accept the distribution. If is is going to be taxed, may as well take 12.5c now and sell, if it is considered a capital return event than I will continue to hold the unlisted company, and importantly not have capital gain event to declare in my tax return.
Disposal timeline, page-4
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