Actually my position isn't that unusual. There was a lot of stock bought on the announcement. So there are numerous holders in the identical position to me to to the churn at that level.
All shareholders will gain the same benefit as I would with the exception of the actual level of the capital loss (which clearly would vary from holder to holder.
Unless you are a foreign entity the franking is completely useful.
Most of us should be sitting on some very large capital gains over the last 12mths and will therefore have large assessments due when your tax is completed this financial year.
I can also understand the position of a holder to want to stay on the register to try to extract further value. I have no issue with this at all. It is important you get the numbers to roll the board to do this.
In the meantime you are asking for people in my position for support but you are not offering me a better deal, it is materially worse due to the timing. If I want to roll the dice on whether there is a better deal inside the company I need to keep my money locked up inside the structure while a new board does due diligence with no guarantee there is more money in the tin to be distributed.
If I am offered a call option (to top up the buyback from any extra cash in the tin after due diligence) I would be happy to support WAM/Cadence's proposal and wait it out.
RHG Price at posting:
92.1¢ Sentiment: None Disclosure: Held
