Very quick. I like their style. Great PR. She had such a lovely voice too. I could tell from the way she typed. LOL.
I have responded again to clarify one more issue. Will post my reply question separately.
Pay heed to the second last paragraph. I was correct about the 3-4 cents. And again I was correct because anything less screws you over from a tax bill point of view and not having the cash to pay it.
_________________________________________
Hi XXXXX
Many thanks for your email enquiry.
In response to your questions,
1) The sale price (gross cash) was approximately $150m. Post repayment of the debt associated with this particular property, witholding tax and sale costs the net cash was $81m.
2) The $81m cash strengthens BJT's Balance Sheet as it provides options in regards to a range of potential uses for the cash. The options for the cash are being assessed and include negotiating with our hedge counterparty, potentially retaining cash on balance sheet for future flexibility, the potential repayment of debt or potential increase in the cash component of the June 09 half distribution.
The most recent distribution guidance given to the market (April 09) is for the June 09 half distribution to be 10.7cpu which will be paid in a mix of cash and script, with a minimum payment of 3.3cpu to be paid in cash.
Please do not hesitate to contact me if I can be of any further assistance
Kind Regards
Josie
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babcock & brown japan property trust
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