Originally Posted by
mistaTea
If they have $75M to distribute after the sale…
I think they should further reduce shares by another 25M.
So, roughly speaking, for every 7 shares held you cancel 1 and pay shareholders $3 for each cancelled share. IRD should give clearance for this capital return so no tax to be paid.
Shareholders can then look at the the SP afterwards and decide whether to buy more SKT or not.
I think this gives shareholders the most flexibility as opposed to an on market buyback program which can be a protracted process that is largely dependent on how the SP behaves (in terms of how any shares Sky end up buying back).