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clock Created with Sketch. 28/10/23
18:35
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Originally posted by ProPunter23Red:
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Hmm looks like those performance rights have a TSR based on Nov & Dec 2018 prices, I don't believe they have met the conditions and expect them to be cancelled.so why not get the ATO ruling months earlier and use the ATO decision in there assessment of capital management options available to them . An ATO private ruling is decided in less than 28 days, this looks like a rubber stamp and uneccessary imo, they have 95m USD in carried forward losses so it is clearly not coming from retained earnings, it's shareholder capital!!!! Otto's management continues to be sloppy yet are paid top dollar for it, that 300k USD termination payment is a disgrace as is having to wait until early 2024 for a simple capital distribution.
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Yes, the ATO ruling does seem amateurish but if it gives the right answer and provides confirmation that it will effectively be tax-free, that may form a basis for further capital distributions.
