Just found out that in order to use franking credits to effect a takeover that a ruling is required from the ATO's Commissioner of Taxation. That ruling takes around 8 weeks to obtain.
I suggested using franking credits to buy out the remaining shareholders in an email to Saputo just a few weeks ago, so I'd imagine that if they are going to take us out, it won't happen for at least another month or so.
Ann: Results of Meeting, page-10
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