Some problems for VMC are they should not have withheld if the payment is a capital payment, if the payment was not capital it was unfranked dividend & there was no dividend declaration, if they sold RXL shares to fund the withholding it is questionable whether they had the right to do so & also if it was an effective breach of escrow provisions as VMC effectively took control of the shares notionally distributed to shareholders, did VMC effectively taking control of the shares result in a breach of the 20% control level, if they withheld tax they have failed to provide a payment statement to the receipients affected…..
VMC have made some major procedural/administrative errors on the face of it - I think there may be more ramifications than you foresee, time will tell.
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Last
11.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $21.57M | |||
| Open | High | Low | Value | Volume |
| 11.0¢ | 11.5¢ | 11.0¢ | $3.237K | 28.69K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 6913 | 11.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 12.0¢ | 74638 | 4 |
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| Last trade - 11.35am 28/07/2025 (20 minute delay) ? |
| VMC (ASX) Chart |