On -Market SHARE BUYBACK & PSC will never again trade below $1, page-139

Archer applied to the Commisioner of Taxation "confirming specific income tax implications of the capital return"

The ATO ruled that no part of the Capital Return will be assessed as a dividend.

It does not matter that "value of the capital return was less than the value of the issued capital of the company". That does not matter if a special ruling is made

It is a special ruling by the ATO, that can be decided due to "tax implications of the capital return" which is exactly what we have here

Not saying that this is gauranteed to happen, but I would guess its highly likely based on the very complex problem here in relation to tax and the sale being treated as income which it is not