Fraser & Neave (F & N)

[CityFarmer]

A bad news for those hoping for special dividend?

http://info.sgx.com/webcoranncatth.nsf/V...500431F58/$file/Announcement_ThaiBev_TCCA_vote_at_EGM_260912_FINAL.pdf?openelement

THAIBEV AND TCC ASSETS TO VOTE AGAINST F&N’S PROPOSED CAPITAL REDUCTION

I don't think it's bad news. F&N proposed capital reduction to return the proceeds back to shareholders anyway. They need to find other ways to return the proceeds back to loyal shareholders. One of them might be by special dividends.

I did not follow it closely. Since the GO is officially announced, does it mean dividend declared after then will be discounted from the offer price of $8.88?