Cost Base Management

Establish Another Vehicle for Investment – Subscribe for shares in New Vehicle

Do not sell target – allow borrowings by target plus Owners write Call Options – Owners can claim borrowings as claw back, send to New Vehicle or External Co. or Acquisition Invesment Capital – sold at a loss subsequently

Owner able to borrow from New Corp. (ZERO TAX). Minimum interest paid at 4.5% – can be neutralized, offset or added back as capital progressively