in-specie distribution to be a dividend

Guys the easy way is being actioned (not all that tax efficient though as I do not see the dividend carrying any franking credits).

Resolution 3 - Amendment to Constitution is required so we get SLR shares as a dividend (subject to PRH meeting the Corp Acts Dividend Test - I would have thought such advise should have been sought in the first instance).

This will mean we get - Assessable income = to 100% of the SLR share price at the time of Distribution.

Our deduction will be a Loss on selling PRH Shares.

Only possible taxation benifit is a timing one once the Dividend goes Ex and assuming we sell this financial year as the Dividend is Scheduled for July and post PRH going EX the PRH share price will be very very low.

It is a poor way to distribute as we will be punished if we keep our PRH shares (then a shell but holding $41m of tax losses - worth up to $6m to a profitable operation) in the hope SLR will do something with it and create new / additional value.

All a bit disappointing as a return of capital would have been better in my view.