Ann: Quarterly Activities Report, page-49

Hi tanon,

Last year the process went something like this from memory.

1. HZN declared a $0.03 distribution tentatively as a capital return
2. HZN requested ATO Class Ruling (i.e., for all shareholders) as to the nature of the distribution
3. Distribution approved by shareholders at an EGM
4. Distribution paid
5. much, much later ATO gave Class Ruling that distribution was a Capital Return, but they could have ruled that it was an unfranked dividend
6. All Shareholder treat HZN distribution as a capital return as per ATO Class Ruling

If ATO ruled that the distribution was an unfranked dividend, then all shareholder woulkd treat the distribution as an unfranked dividend.
At lease that is my understanding of the process.