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Piedmont Lithium & Sayona Mining merger (ASX)
Summary
On 30 August 2025 (AEST), Piedmont Lithium Inc. (ASX: PLL; NASDAQ: PLL) completed its merger with Sayona Mining Limited (ASX: SYA). Under the merger, a newly formed US subsidiary of Sayona merged with and into Piedmont, with Sayona shareholders and Piedmont stockholders each holding approximately 50% of the combined company. Piedmont's CDIs were delisted from the ASX and its common stock was delisted from the Nasdaq.
The combined company, Elevra Lithium, brings together Sayona's North American Lithium operation in Québec with Piedmont's Carolina Lithium project in the United States and its interest in the Ewoyaa Lithium project in Ghana, creating one of the largest hard-rock lithium platforms in North America.
- Sayona EGM: 31 July 2025 – all resolutions carried
- Piedmont special meeting: 22 August 2025 – all proposals carried
- Merger completion: 30 August 2025 (AEST)
- Acquisition consideration: 5.27 Sayona (SYA) ordinary shares for each Piedmont CDI (PLL) held, with fractional entitlements rounded up to the nearest whole share
- Share consolidation: every 150 Sayona shares consolidated into 1 share (record date 15 September 2025)
- Name and ticker change: Sayona Mining became Elevra Lithium Limited (ASX: ELV) on 26 September 2025
Holders of Piedmont common stock on the Nasdaq received 0.35133 Sayona American Depositary Shares (NASDAQ: ELVR), representing 527 Sayona shares, for each Piedmont share.
Tax implications
Capital Gains
Working out your net capital gain or net capital loss for the 2026 income year
The exchange of your PLL CDIs for SYA shares is a CGT event. At the time of writing, we are not aware of an ATO class ruling for this merger. Australian resident PLL CDI holders who make a capital gain may be eligible for scrip for scrip rollover relief if the conditions are met. This means they could defer paying capital gains tax on the disposal of their PLL CDIs when they receive SYA shares in exchange.
- If rollover applies and you choose it: the capital gain is disregarded, the cost base of your PLL CDIs is carried over to your SYA (now ELV) shares, and the original acquisition date is kept for CGT discount purposes.
- If rollover does not apply or you don't choose it: you must include the capital gain or loss in the income year the merger was completed. The cost base of your SYA shares would generally be the market value of the PLL CDIs you gave up on 30 August 2025, and the acquisition date would be 30 August 2025.
The share consolidation and name change do not by themselves trigger a CGT event. Your total cost base is spread across the smaller number of consolidated shares.
To work out your net capital gain or net capital loss for the year, you must take into account:
- any other capital gains or capital losses you made in the 2026 income year from other transactions
- any net capital losses carried forward from earlier income years
- whether you can apply the CGT discount to any part of your net capital gain
As Piedmont was a US company, the tax treatment for you may depend on your residency. We recommend checking with your accountant or tax advisor.
How to handle this in Sharesight
Step 1: Merge PLL into ELV (formerly SYA)
1 – On the Overview page, select PLL.ASX
2 - Select Edit holding tab
3 - Select Merge this holding
4 - Date of Merger: 30 August 2025
5 - New holding: Search: ELV.ASX (Elevra Lithium, formerly Sayona Mining SYA.ASX)
6 - Quantity: 5.27 SYA shares for every PLL CDI (fractions rounded up to the nearest whole share)
For example, 1,000 PLL CDIs gets 5,270 SYA shares.
7 - Select Save changes
Your original PLL cost base and purchase dates carry over to your new holding, in line with scrip for scrip rollover relief.
Step 2: Check the share consolidation
After the merger, Sayona consolidated every 150 shares into 1 share (record date 15 September 2025). Sharesight usually applies consolidations automatically. On the ELV.ASX holding page, check that your quantity has been reduced to 1/150th of your pre-consolidation holding.
For example, 5,270 SYA shares became approximately 35 ELV shares after the consolidation (5,270 ÷ 150 = 35.13).
If the consolidation has not been applied, you can record it manually by following our guide on how Sharesight handles share consolidations. We recommend checking the exact quantity on your holding statement from the share registry or your broker.
FAQ
What happened to my Piedmont Lithium shares?
After the merger was completed on 30 August 2025 (AEST), Piedmont became a wholly owned subsidiary of Sayona. Piedmont CDI holders received 5.27 Sayona ordinary shares for each PLL CDI, and PLL was delisted from the ASX.
Do I need to take any action?
You typically don't need to take any action, as your broker or the share registry handles the conversion automatically. However, you will need to record the merger in Sharesight as outlined above.
What do I receive for my CDIs?
You received 5.27 Sayona (SYA) ordinary shares for each Piedmont CDI (PLL) held, with any fractional shares rounded up to the nearest whole share. Those shares were later consolidated (150 into 1) and now trade on the ASX as Elevra Lithium (ELV).
Why did my number of shares decrease in September 2025?
Sayona completed a share consolidation, converting every 150 Sayona shares into 1 share. Your total investment value and cost base are not affected by the consolidation, only the number of shares and the price per share.
What is the difference between SYA, ELV and ELVR?
SYA was Sayona Mining's ASX ticker. After the name change to Elevra Lithium on 26 September 2025, the ASX ticker changed to ELV. ELVR is the Nasdaq ticker for Elevra's American Depositary Shares, which Piedmont common stockholders (not CDI holders) received.
Is this merger a taxable event?
The exchange of PLL CDIs for SYA shares is a CGT event. However, you may be eligible for scrip for scrip rollover relief if you make a capital gain. Consult with a tax professional for personalised advice.
You can calculate your estimated tax liability using our CGT calculator. If you have more than one trade, you can add them in Sharesight and run the CGT report to calculate your tax liability.
Will Sharesight track my cost base?
Yes, Sharesight accurately tracks your cost base. You can find your cost base information in the Historical Cost report.
If you don't have a Sharesight account, sign up here for free, enter the date you bought PLL, then follow the steps above to keep track of the cost base.
How does this merger affect my portfolio concentration risk?
You can find out your portfolio diversification using the Diversity report.
Where can I find the official announcements and details?
You can find more details in the Piedmont completion announcement, the Sayona completion announcement and the Elevra Lithium name change announcement.
The guide above is a suggestion on how to handle the corporate action in Sharesight and is not financial or tax advice. We advise you to consult your financial advisor or accountant. We also encourage you to review the official documents for full details.
Last updated 6th November 2026