Is that a requirement to distribute other shareholders entitlement that has been set aside by the board for a select group of investors? I cannot understand why the ATO cannot see this inherent bias in the on-market buyback scheme which is contrary to 1 of the criteria's to get approval.
But u have overlooked another choice the board could have made that would have been a fairer alternative. Us retail shareholders should have been entitled this financial year to 2 dividends and 1 return of capital distribution/
In many of our hands this form of distribution would be tax free but in the hands of the professionals it would be treated as income and probably force them to meet a higher tax obligation.
NHC Price at posting:
$3.75 Sentiment: Hold Disclosure: Held
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