Ann: WES: API transaction - update, page-3

Both offers will be taking off the final f.f. dividend, (amounting to $.02), so that would mean the
WOW offer reduces to $1.73. The dividend is due to be paid today BTW.
The WES offer anticipates a further $.03 div.so that would reduce the "capital" return to $1.70.
However, my concern is why restrict the total dividends to $0.05 when there is a large
franking account balance. It would make the offers more attractive if the franking balance
in API was accessed by way of a further significant dividend.