Some lateral thinking ...
If the ATO does not play ball and the board really believe the shares are undervalued, they should use a portion of the proceeds from the asset sale (say $1B) to implement a large off-market buyback with any GCT tax payment converting to ITC's and then forming part of the off-market buyback. Nothing better than say a $10 per share distribution with full ITC's.
This is one way the tax effect is at the shareholder level not the corporate level.
Ann: Fourth Quarter FY24 Business Update, page-17
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Last
$22.60 |
Change
-0.150(0.66%) |
Mkt cap ! $2.579B | |||
| Open | High | Low | Value | Volume |
| $22.00 | $22.63 | $21.90 | $6.682M | 297.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 960 | $22.47 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $22.62 | 615 | 1 |
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| Last trade - 16.10pm 24/07/2024 (20 minute delay) ? |
| PPT (ASX) Chart |