Well spotted Joker re prohibition of dividend.At 30.6.23 there...

Well spotted Joker re prohibition of dividend.
At 30.6.23 there was approximately $100 Mil.in the franking account.
Under this proposal, the Barro family interest will retain access ( post implementation).
Existing shareholders accumulated these franking credits through taxation of profits
over many years and therefore will now be denied access.
Will this be recognized in the independent report as unfair.
The original announcement held out the prospect of a dividend by stating :-
"Any cash amount of dividends, buyback or distributions announced or declared by Adbri after the date of the Proposal
would be deducted from the Proposal price."
CAVEAT EMPTOR