Yes you will. The details in terms of the exact mechanics of the pro-rate capital return are yet to be released...but it will probably end up being something like a 1 in 10 share cancellation.
Let's assume that is how they go for the rest of the lesson.
So they will cancel 17.47M shares (10% of the total shares outstanding). For each cancelled share they will pay out $4/share ($70M/17.47M cancelled shares).
By doing it this way they are to ensure everyone receives their share of the $70M without having to pay any tax.
So, if you own 10,000 shares - at the end of November Sky will cancel 1,000 of your shares and pay you $4000 tax free. At the end of the process, you will own 9,000 shares (and the share price should adjust accordingly upwards if the market cap remains unchanged).
It is a good plan, and they are able to execute the payment a lot faster than I initially thought (within a month of the vote on 2 November. The capital return plan has to get shareholder approval first. So they will share details of the exact mechanics of the capital return prior to the AGM so that we can vote on it).
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