SUSS Capital Management.

The following had been pointed out to an Investment Relation officer within AMP in July 24 but simply ignored or the board din’t receive my feedback.

Let’s do a comparison between Suncorp and AMP.

Both were in the financial sector and sold off a portion of their business.

You would imaging that a caring or fair minded board would apply to the ATO to distribute the excess funds from the sales to all shareholders.
I can’t see any reasons why the AMP board didn’t apply to the ATO for the the same tax ruling as Suncorp.

The board basically chose the option that would placate the professional traders, institutions or T20 and in doing so, financial disadvantage the majority of shareholders. These shareholders missed out on the pie that they were entitled too receive without doing anything.

In this financial year, us unfortunate shareholders should have gotten 2 dividends and return of capital distribution and probably most of us would need to pay tax but simply adjust our cost base.

Hopefully, a poster will attend the AGM and pressure the board to give an explanation why the didn’t fairly distributed the excess fund to all shareholders.

Don’t be conned with them retorting that all shareholders had the right to partake in the buybacks if they choose too.

They picked this type of buyback because small shareholders are unlikely to participate and thus leave the funds open for the vulture to feed on.