listed options

I contacted CCI to see if the exercise price of the listed options (CCIOA) would be reduced from 40c to 25c when the capital return is made

Here is the answer

You are correct the exercise price will be adjusted but not by the full 15 cents.



Due to the complex nature of our tax system, the return to shareholders will not be all capital return, a significant portion will be a special
unfranked dividend.

Until we know what the final figure is for the capital return based on the intercompany loans and cost base of the asset (amongst other things
I won't bore you with), we will not be able to announce what the reduction in exercise price will be. We are not h olding out, we reallywill not know until after settlement, then the ATO gives it's final deliberations after we pay tax in South Africa and see what recognition we get here in Australia under the double tax agreement between the 2
countries.



Regards



Brian Thomas