7.3M has a pay back period of at least 3 years from FY18, add in...

7.3M has a pay back period of at least 3 years from FY18, add in opp cost on 7.3M and that's at least another 1M which I would suggest pushes the payback period to 4+ years IF they do indeed realise savings of 2M for each year, what if it is only 1.5M?

With the div, we wont know for certain how/if the redundancies affect it. Mgmt may increase the div to demonstrate strength and to keep within the 60% POR but what we wont know is what the div would be if the redundancies didn't occur, ie 20c vs 18c. We wont be any the wiser. Also, the next div is payable near end of 2016 which is when the redundancies would start to flow given expected operation in 1Q 2017. Pls correct if wrong.