If Minors claims are true and they now have 54% of the IC then...

If Minors claims are true and they now have 54% of the IC then by the end of this month they will no doubt control the board. Given the things they have said about the current board members I wouldn't think too many of them are counting on turning up to the office next month.

Given this and the fact that Minor have just declared that they intend to make the offer unconditional I reckon the board should stick it up them and declare an 8c fully franked dividend payable this month. This would effectively hand out all of the cash that us shareholders have forgone in missed dividends recently and also move all of the franking credits into the hands of shareholders rather than Minor. The 8c is also the difference between Minors revised low ball bid and the best offer (that we know of) so seems fair.

Oaks has been accumulating franking credits since the dividend was suspended. Those franking credits belong to the shareholders. Minor can't benefit from those franking credits but if we accept the takeover we lose them.

Please Doug, declare an 8c fully franked dividend just for fun. I dare you !