re: Ann: Directors Resolve No Dividend on Cla... Sorry I didn't answer the question properly.
The shares are not redeemable when the comany wants. The constitution was changed and the A Class can only be redeemed on a vote of 75% of shareholders.
As for the dividend, you are correct but the loophole is that only 12 months of dividends need to be paid before an ordinary dividend is paid. The A Class dividend has a minimum of 14cents where as there is no restriction on the ordinary dividend once the A Class have been paid there dividend for 12 months.
Lets see what the directors strategy could be;
Pay the A Class dividend so that the 12 month window falls around June 2013 (when they said they woudl review the dividends) They haven't acquired anything so they can then pay out all the cash to the ordinaries. Hmmmm???
re: Ann: Directors Resolve No Dividend on Cla... Sorry I didn't...
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