I actually think SM won't mind if 2/3s (or more) of the Divvies...

I actually think SM won't mind if 2/3s (or more) of the Divvies go to Cash. I don't think he would have made a "bold" special divvie payment unless he was very sure of near term further cash generation from Cannon UG. Actions speak louder than words, and knowing that SM is a reasonably conservative bloke, I'm pretty sure he has a high level of confidence in Cannon UG proceeding. He must have a pretty good idea of what Weolyu has in store for us too. I'm happy that the majority of investors will take cash instead of share dilution and I think the "insider" shareholders could easily feel the same way.