Gareth the earlier proposal was rather than $1.01 per share...

Gareth the earlier proposal was rather than $1.01 per share being paid as the consideration under the scheme, shareholders would be paid a fully franked dividend of 13 cents per share (I.e. 5.57 cps franking credits attached) and then 88 cents would be paid for the shares. So shareholders are effectively having the gross capital gain which is taxed reduced by 13 cps and in return getting a fully franked dividend of 13 cps. I think most shareholders tax resident in Australia should be better off tax wise with the fully franked dividend route.

Hoff and Arrow would argue that given the delays, the dividend should be increased from 13 cps.