There's also a reason that some might mistakenly think they...

There's also a reason that some might mistakenly think they definitely should not sell.

Australian taxation law requires that if you receive distributions of capital that exceed your cost base, you pay CGT on the difference. (eg if you paid 80c for a stock, and you got 90c in capital back, you'd be liable to CGT on the 10c delta.) There is no requirement that you actually sell the underlying security in order for that liability to arise.

In my experience many people do not know this. Such people might think, post the cap return, that they would trigger a CGT liability by selling, and so they will avoid that liability for about seven years by simply holding their shares until SDG is finally liquidated. They would be wrong about that - but, perhaps that will artificially reduce selling pressure when SDG goes ex the CR.