Johnm,
This might be one of the reasons why SER was so much discounted.
It was discounted by the amount of tax we have to pay on the unfranked dividend.
We all made the mistake of not discussing this issue in detail prior to the inevitable.
this is also the reason why SER SP is well "supported" now..it means that 20% of Tarcoola + Royalties is worth a lot more than we assume...because there are no major discounting tax issues.
Are there any Tax gurus on this forum to shed some light?
Ann: SER Shares Trading Ex-Entitlement , page-17
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