Not in my best interest - Mr Chairman, page-4

Hi Hadrian

Good summary, but the offer is not 1.5 times as they are receiving the excess cash Mayne has in the kitty.

If board had disclosed to Cosette that a special dividend would be paid, i am sure Cosette would have negotiated a reduced offer price from $7.40 to reflect the net cash leaving Mayne via the special dividend.

With most major shareholders in the red on their investment, there is no benefit of receiving a dividend and potentially paying top up tax when you can take the payment tax free as a reduction to the capital loss to be crystallized by having all of the proceeds exclude a special dividend.