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  "documentTitle": "Elliott Management | Activist Presentation Deck | 39 slides",
  "authorId": "elliott-management",
  "authorName": "Elliott Management",
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  "presentationDate": "2017-04-01 00:00:00",
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  "pageNumber": 37,
  "pageCount": 39,
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  "notes": "The slide highlights a structural inefficiency where franking credits generated by BHP Ltd cannot be effectively utilized by BHP Plc shareholders, leading to economic waste.",
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      "text": "Flowchart showing BHP Ltd, BHP Plc, shareholders, and the flow of dividends/franking credits with a red X indicating the blockage.",
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      "text": "Explanatory text on the left regarding franking credits and on the right regarding the DLC structure.",
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      "text": "c.US$9.7bn",
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      "text": "Bottom section detailing the Dividend Share Mechanism and the resulting wastage of franking credits.",
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      "text": "Economic misalignment in the current BHP group structure – inhibiting shareholder value",
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