Another 10 days have passed and not a murmur from management. Their excuse for "delaying the dividend announcement" was based on NWH's proposal but that has now been withdrawn.
Whether they pay a dividend and the size of that dividend is material to the decision as to whether to take up the takeover offer. Franking credits attached to the dividend don't reduce the takeover price but do increase the total funds received by shareholders.
$57m is actually tax paid by existing shareholders and should be returned to them. Handing it off to Thiess would be a disgrace.
Directors seem to be acting in Thiess's best interests and feathering their own beds at the expense of shareholders.
MLD Price at posting:
$1.08 Sentiment: Hold Disclosure: Held
