Ann: Pacific Energy to Acquire Contract Power Group, page-3

Not sure about a smarter head however my take is that the dividends will be suspended for 12 months commencing with the final FY18 dividend (October 2018) according to page 10 of the amended half year results. The recently declared interim dividend will be paid 13/04/18.

One slight concern for me is the Condition Subsequent for a $20m CR which sounds like a minimum amount that needs to be raised. The rights issue is a 1 for 9 issue at $0.50 per share and based on the current number of shares outstanding (372.1m) that is 41,344,444 new shares issued at $0.50 each means $20,672,222 raised only if every single shareholder takes up the offer - not a lot of wiggle room considering the issue is not underwritten... They are a renounceable issue so I'm guessing the majority shareholders are keen to buy up any unwanted entitlements and ensure the full amount is raised.

Haven't had a chance to look at all of the Contract Power info as yet but if two major banks are happy to fund the full purchase price plus some future capex, I'm guessing they think it looks good.