from shaws morning notes, page-42

JGPM, I was thinking the two tranches might be the FF dividend at the 29c price or whatever it was, and the rest of the sale price- minus tax- that IVA wants paid out, in the second tranche. $175k sales price minus 50k tax = 25k for the punters later. Or IVA might want that FF too, instead of as a capital return. Capital returns might be tax-free, but is taxable when one sells. Great for a buy and holder, but FF dividends are outstanding, imo.

I may have missed the boat on buying this one. :(