Ann: Update on AVID and Ho Bee Land Proposals, page-2

These releases continue to read a little incorrectly. They are not saying the correct comparison between the two offers. Ho Bee is offering a flat 70c per share and does not make mention of any intention to pay a dividend which may have a franking credit value. Avid is offering 67c per share but intending to offer a reduced cash component and a fully franked dividend (which adds another cent or so of value if you can benefit from that). These press releases are all written a little haphazard and suggest it's all a bit iffy in the deal, or at least in the announcement writing.