the idea to pay a fully franked dividend as part of the deal...

the idea to pay a fully franked dividend as part of the deal would be due to the fact VTG sits on a lot of franking credits due to several past years of profits. i dont believe these are transferable to a takeover entity so better to return them to shareholders by way of paying a franked dividend. the variable nature of that dividend i guess is due to the fact they dont know exactly when the deal will close and how much cash is available to be paid out as a dividend. the business is currently cashflow negative (as at end dec22 - last financial update) and will continue to be so till FY24 i believe they said.

extract from HY22 announcement: "While Artisan’s evolved business model has delivered early positive indications, significant work remains torealise outcomes from best practice execution. Subject to successful execution of growth programs and reducedheadwinds, Vita is targeting monthly underlying EBITDA from continuing operations to break-even duringFY24."