Ann: Scheme Implementation Deed, page-6

freeze, no. reject yes, and so long as you own 25% of the minority shareholding then that should work. don't hold your breath for a higher price or the offer to return though....

one of the reasons they've gone with the special dividend element is (in my understanding) is two fold:

1 - it clears their franking credits because they are useless to an o/s entity and as such the shareholders get the franking benefit on a larger portion of the sale price and thus,

2 - the actual CGT amount is 55cps which for those who may hold for less that 12 months means that the CGT impact is slightly less. and tbh if a holder bought at 20cps and is moaning about having to pay tax on a near tripling return in less than 12 months then..... perspective maybe?