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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": 38,
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  "notes": "The slide uses a 'before-after' logic implicitly by showing the removal of the DLC and Dividend Share Mechanism.",
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      "kind": "diagram",
      "text": "Corporate structure diagram showing Shareholders, Unified BHP, and the removal of the DLC and Dividend Share Mechanism.",
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      "text": "The Dividend Share Mechanism would no longer be required and could be removed. This ensures BHP does not needlessly waste franking credits.",
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      "text": "As an Australian tax resident company, Unified BHP would be able to attach franking credits to dividends or buybacks. Unification ensures a core Australian nexus.",
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      "text": "With a unified BHP, the DLC agreements would no longer be required and would be terminated.",
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      "text": "1. Unified BHP would be able to maintain BHP's current stock market listings and continue to be included within key FTSE and ASX stock indices",
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      "text": "Unified BHP: a simplified structure to unlock the value of franking credits and enhance economic efficiencies",
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