Ann: Nomad Group - Next Step in Company Restructu, page-3

re: Ann: Nomad Group - Next Step in Company R... The closure of NES was not a big surprise (fy13 result painted a bleak outlook) and it is being done cost effectively. The vast majority of NOD's value has always been in its $11.8m net cash balance, McGrath and its Karratha accomodation village. The cuts to corporate overhead are a big positive. NOD is still undervalued.

Also, NOD has $17m of franking credits and it looks like it is about to start paying dividends to shareholders (there is an AGM resolution allowing this occur). For SMSF investors, it means they will get a tax rebate as they pay 15% tax, instead of 30% tax paid by companies. For every $1 of dividends paid out, SMSFs will receive $1.15 in the hand. That's a big kicker! I reckon that 70% of NOD's share register is comprised of SMSFs.