all this for just one cent, page-10

The Shaw report is labelled "discussion with Michael Anderson".

Half page update of earlier report from 3/5/11. Part of Shaw's daily email to clients. Key points:

- $35m cap return (10 cents per share)
- $100 mill f/f div (28.7 cents per share)
- ATO approval in the next few weeks
- "around early October for the distributions to be completed if all goes to plan"
- general positive comment about business etc.

Note was published day before quarterly report. Confirms capital v dividend split that Lionel posted from memory which was good.