Ann: BAU:MVT Increases Proportional Off-Market T/over Bid for BAU, page-2

Can anyone explain to me how this increased offer is better than the 5c return of capital whilst still maintaining all your holdings. The announcement of the increased offer of 11c for half your holdings ( haven’t worked this out) is better than the 5c /share return of capital seems to be worse financially for shareholders. No doubt, once the return of capital is completed, the SP will be eroded by 5c.
I clearly was expecting the 5c/ share return of capital to take place first and then the offer of 11c for the off-market T/O for 50% of your holdings to then proceed. That way is then beneficial to shareholders.