:p15% cap gains? why?first, cap gains POST separation costs...

15% cap gains? why?

first, cap gains POST separation costs (worked on net) so net proceeds ~$2bn....then we need to know our cost base - they werent purchased for free now were they? also;


if a gain is determined, no CGT discount.

This is why theyre pushing the whole return of capital from a restructure - to simply pass the lot through.....that would be nice.....~$11-12 p/s....post debt of course....
quick n dirty - simplistic version:
$2.1bn
~-$0.1 seperation costs
-$0.7bn debt repay
=$1.3bn left over /110m shares = $11.8 p/s capital return

Then the pure focus becomes asset management: we need to significantly shrink our expense base. Just look at the impacts to mfg's sp by lowering their costs!! imagine the uptick in net profit if we did!! Boutique model fails when they operate in silos without extracting synergies. Time PPT stuck it to the old PDL structure and sacked the useless lot and rolled it all into legacy PPT - particularly the PDL domestic arm....cherry pick the best, flick off the rest!

our revenue is great - ~$214bn @ 41pbs = ~$880m annualised revenue - uptick by changing mix to higher fee and close low, unprofitable offerings, then slice the cost base...cant believe they revised costs upwards....!!!

Strategy:

1. lift the avg mngt fee to >45bps,
2. decrease cost to income to under 75% (currently 78%) and watch the $$$ roll in.....!!!

lets see what unfolds in two weeks......better be a juicy divi.....80c is my call....