HUM 2.27% 45.0¢ humm group limited

Ann: Shareholders to vote on Humm Consumer Finance transaction, page-112

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    The consideration for HCF comprises 150 million Latitude Shares (Consideration Shares) and $35 million cash. Humm intends to distribute all of the sale proceeds to Humm Shareholders, who will receive approximately $0.68 per share, consisting of 0.303 Latitude shares and $0.07 cash via the HCF Distribution.
    Well at LFS share price of $1.80, we wont be receiving the approximately 68 cents.


    After Completing the HCF Sale and distributing the share and cash consideration to Eligible Shareholders, Humm expects that it will have meaningful unrestricted cash, which will be first applied to the retirement of its perpetual note (c. $55 million).

    Thereafter, the Humm Board will take a disciplined approach in allocating the remaining unrestricted cash between investing further in the accelerated growth of the Commercial business and capital management initiatives.

    So really we share holders should not be expecting any further "SPECIAL DIVIDEND" as a capital return???
 
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