Ann: Sale of 5GN Business and Capital Return, page-18

Less than 6months ago, NTA was 18c, after provision for a lot of tax, which the company is querying whether there are losses that can be applied . If the tax is paid there will be decent franking credits, on top of the 18c. If tax doesnt need to be paid, then cash levels which should be available to all shareholders, will be higher. I hope the business hasnt been running at too big a loss in the last 6 months-always the potential management will want to write off as many assets as possible and maximize liabilities, even though will be a stark contrast to the company presentation at the webcentral sale time.
The time frame proposed seems to be such that we might not see an audited annual set of accounts.
Wording includes that an independent expert can find that the proposal is unfair, yet reasonable. I suspect it will be very unfair and a really independent expert should find it isnt reasonable, but the paid expert wont come to same conclusion.
Reminds me a bit of the Vortiv(now Findi) buyout proposal.
Dallek1