I am presuming the $21.6m recognised tax liability, should (after the buyback) equate to about 10c per unit franking credit. This is hopefully on top of the revised upward nta per unit of about 92.9c which is predominantly cash.
It would make sense for the franking credits to be distributed, either with the quarterly distribution or with a special dividend?
Any case it is an interesting situation; buying $1+ value for 90c seems like a good move.
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