what now?, page-144

I received an update from SVPartners today.

It seems they have given up on providing estimated dates of completion.

Things do appear to have progressed a little.

Outstanding items (paraphrased)

1) ATO rulings concerning tax treatment of the option exercise and distribution
2) Finalising the liquidation of No.2 including tax returns
3) Exercise of the call option
4) distribution of funds

Funds to be distributed are still estimated to be "at least $18m"

One interesting comment in the letter was that the ATO ruling is related to the availability of franking credits. No idea whether this would mean they withhold tax on the distribution and provide a franking credit, or it means that there may eventually be the full cash distribution and franking credits attached on top.