I would have thought the opportunity for WAM lies more in the...

I would have thought the opportunity for WAM lies more in the franking credits so I would have expected them to lift the offer and affirm an end date to the offer of 31 March. That way they lock in maximum benefit for their WAM SH. If they do extend beyond, they are really just paying to pick up more FUM (looking at the dilution impact pre vs post dist to the impact of the scrip ratio.)

As an AYS SH i wouldn't mind them extending...