Doctornoh and Goldbear77 both make good points. The best outcome...

Doctornoh and Goldbear77 both make good points.
The best outcome will be for BCI to maintain a healthy dividend, and I think they are clever enough to see that. An an IOH holder, I can say that the IOH way of doing business was to get someone else to front up with the money and do the digging. I think BCI will adopt a similar approach if they can, especially with IOH's Alwyn Vorster coming on to the BCI board. He did some very smart things for IOH and has a reputation for making deals. Don't underestimate the talent BCI is getting with IOH. This is company making stuff.
This takeover is very exciting indeed, and very astute of the management of both companies - great to see individual egos being put aside (esp. Stokes in moving from full control of IOH to a non-control stake in BCI).
Goldbear does have a valid concern though, in that unless the cash keeps flowing to shareholders BCI will be treated just like AGO (of which I am unfortunately also a shareholder - hoping for some corporate action on that too!).