Ann: Dividend/Distribution - TSM, page-7

Hi d4drury, in the investor presentation, there was a key line as follows.

• Appointed Canaccord Genuity as strategic advisor to the Board, to assist in continuing to unlock value for the UK business.

I had thought there was more in that announcement but must be remembering previous discussion. The background is that thinksmart was a successful Australian business providing finance to intermediaries for consumers, think of Harvey Norman no interest ever etc. On the basis of Australian success they expanded to UK and to Europe. Post GFC they withdrew from Europe but the UK business has gone from strength to strength. On the other hand the Australian business was not growing very strongly I think. So they sold the Australian business to flexigroup. The business now effectively is a UK business and the company is listed on the Australian Stock Exchange. You would think that may not be where the future lies. Hence the projections about delisting from the ASX and relisting on the ftse.

The bullet point paragraph above certainly indicates that the board is considering all options and I think a UK business listing in the UK would appear to make the most sense. I don't know whether that is good or bad news for us down under, but it could well be good, especially if the Aussie dollar goes lower versus the UK pound, and if it is listed in the UK at a very good price.

Hope that helps, I am no expert on tsm so dyor.

Imo its a great little company with potentially a really good future for we investors especially if you would agree with commentators that the UK economy is strong and with good future prospects, and with a larger population than here.