Ann: Capital Raising Presentation correction-ELD.AX, page-52

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5.1.3 Distributions Distributions are at the discretion of the Directors of Futuris and also subject to the availability of Distributable Profits. Distributions are non-cumulative and if a Distribution is not paid in any period, it need not be made up in any subsequent period. Distributions are expected to be fully franked, but may not be. If a Distribution is not fully franked, the Distribution will be grossed-up (see clause 2.3 of the Terms). The value of franked Distributions depends on the investor being able to utilise franking credits. 5.1.4