Ann: Implementation of iiNet Scheme of Arrangement, page-5

I elected to take the cash i.e. did nothing. Reasoning at the time was that if I was interested in TPG shares I could just buy them on the market. Letter from IIN dated 21 August 2015 contained details of the two options as follows ....

Total Consideration to be provided for Share Elections:
As announced on 22 July 2015, iiNet Shareholders who made a valid Share Election will receive, for each iiNet Share held continuously from the Election Date until the Scheme Record Date:
 0.55332 New TPG Shares;
 $3.8286 in cash, consisting of:
 $3.772 per iiNet share; plus
 $0.0586 per iiNet share as Top-Up Cash Consideration; and
 $0.6914 per iiNet share by way of the fully franked Discretionary Special Dividend, payable in cash.
Total Consideration to be provided for Cash Elections:
iiNet Shareholders who made (or are deemed to have made) a Cash Election will receive $9.55 per iiNet Share, consisting of:
 Cash Consideration of $8.80 per iiNet share;
 $0.0586 per iiNet share as Top-Up Cash Consideration; and
 $0.6914 per iiNet share by way of the fully franked Discretionary Special Dividend, payable in cash

By my calculations cash wins and we did ok