@joewolf
if one can fully utilise franking, then all is balancing quite nicely.
obviously not everyone is in the same position
as i understood it and correct me if i'm wrong, this conversion results in a CGT event and all holdings (except the unlisted stuff) are effectively sold and re-bought in a new vehicle, and since they had a particularly good year there is a tax drag for those who cannot fully utilise the franking credits generated as a result
that is one drawback of this conversion
the second drawback that i saw from skimming the document is that those staying for the ride are paying two sets of management fees plus director fees and all the expenses of running the unlisted MA1 shell, this i find hard to accept.
MA1 Price at posting:
$1.27 Sentiment: Hold Disclosure: Held
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