soooooo whats left, page-5

Hi Afex, yep ok got you. Never really considered the franking credit in my analysis but I guess its a valid point. In share price terms however that would involve a 42% drop in the share price from todays close, which I just cant see happening. Possible I suppose. Continuing on my theme and the tax analysis aspect you raise, there is obviously the benefit of the capital loss to be considered as well as this can be offset against gains potentially reducing future cap gains tax for the winners as well so the tax adjusted return is likely to be higher than 10% considering franking credits and capital loss benefits. That said I just cant see it dropping below 30 cents. NTA on last annul report was 69 cents so even with 15 cent cash reduction NTA is still 54 cents. 28 cents will result in a massive gulf between share price and NTA. Lets see how the dust settles tomorrow.