I just checked my bank account for the receipt of the bbi capital return promoted as being $0.04 per share prior to the General Meeting to approve the restructure and to my disgust I find that I have only received $0.037978591 cents per share.
On ringing the Registry I am advised that there has been an amount withheld but they can't advise me why. This is a capital return not a distribution accordingly there shouldn't be any tax on it.
In my opinion these people have to take the award for the most corrupt, misleading and incompetent people that have ever been appointed directors of a company. I have held these shares for a very long term and it appears the people feathering their own nests at the expence of the directors have failed in their duty to disclose that the $0.04c capital distribution in the restructuring proposal would be subject to withholding amounts. I also wonder how many people bought shares at $0.035 thinking they would get a return of $0.04 when the restructuring went through unaware of a non disclosed withholding?