How to handle the Tatts Group and Tabcorp merger
Sharesight makes it easy for investors to handle corporate actions (even complicated mergers) and track the capital gains tax implications. The benefit of using Sharesight to track the Tatts Group (TTS) and Tabcorp (TAH) merger also ensures that you maintain an accurate record of your portfolio performance.
2 – Click ‘Enter a new Trade or Adjustment’.
3 – On the pop-up window, select ‘Return of Capital’ from the transaction type dropdown.
Based on the Tatts Offer - Scheme of Arrangement: Merger page, set the:
4 – ‘Paid On Date’ : 22 November 2017
5 – ‘Date of trade’: 22 November 2017
6 – ‘Capital Returns Value’: ($0.265 multiplied by the number of TTS shares held on Scheme Record Date)
7 – ‘Comment’: Tatts and Tabcorp merger. The Scheme Record Date is 22 November 2017.
8 – Choose a file: to help keep your records in order, you can attach the Separation Scheme Implemented letter.
9 – Click ‘Save this trade’.
Example If you owned 200 shares of TTS as of the Scheme Record Date, the Capital Return Value is $53.00 = 200 TTS shares x $0.265.
10 – Click on ‘Holding Settings’.
11 – Click on ‘Merge this holding’.
12 – On the Merge Holding pop-up window, set the ‘Date of Merger’ as 22 November 2017.
13 – Type ‘Tabcorp’ or ‘TAH’ in the search field and select ‘ASX:TAH Tabcorp Holdings Ltd’ from the dropdown list.
14 Type in the ‘Quantity’ field: (0.8 multiplied by the number of TTS shares held on Scheme Record Date)
Example If you owned 200 TTS as of the Scheme Record Date, the Quantity is 160 = 200 Tatts shares x 0.8 Tabcorp shares.
15 – In the ‘Comments’ field, type a note for your reference of why this merger happened.
16 – Choose a file: to help keep your records in order, you can attach the Separation Scheme Implemented letter.
17 – Click ‘Save changes’.
The Tabcorp Individual Holding Page will load with the merged shares added.
The guide above is a suggestion on how to handle the corporate action in Sharesight and is not finance 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 modified on March 13, 2018 UTC