Im struggling with it too. The announcement says net assets...

Im struggling with it too. The announcement says net assets after the div will be $131m/ 114mshares or $1,15 per share. So that 50c ff or 70c gross plus remaining net assets of $1.15 and the share price drops; to $1.15 so you get the dividend for free. I assume they are only delaying the dividend until after year end so they can pay the tax on the sale and be able to frank the dividend .

Perhaps the market was hoping for a higher dividend or for the company to sell the lot and wind up and return all capital

One negative is the remaining business lost $3.2million before tax effect in the first half. So how much will it loose before it gets enough scale to break even. This is not great but how much would you discount net assets for this , If you subtract the gross dividend you get whats left for 45c a share with net assets of $1.15 that's a hell of a discount ! Do know what im missing ?