How to handle Unibail-Rodamco Acquisition of Westfield Corporation
Sharesight makes it easy for investors to handle corporate actions (even complicated acquisition) and track the capital gains tax implications.
By using Sharesight to track the Unibail-Rodamco acquisition of Westfield Corporation (WFD) you maintain an accurate record of your portfolio performance.
1 – On the Portfolio Overview Page, click on Westfield Corp (WFD.ASX) to go to the Individual Holding Page.
2 – Click ‘Enter a new Trade or Adjustment’ button.
3 – On the pop-up window, select ‘Return of Capital’ from the transaction type dropdown.
Based on the Scheme Implemented letter, set the:
4 – ‘Paid On Date’ : 07 June 2018
5 – ‘Date of trade’: 01 June 2018
6 – ‘Capital Returns Value’: (USD$2.67 x number of WFD shares held on Scheme Record Date x conversion rate) - Conversion rate is USD$1:AUD$1.316616
New Zealand Tax Residency portfolios, need to enter ‘Ex. rate’: conversion rate NZD/AUD - 0.92348158
7 – ‘Comment’: Unibail-Rodamco acquisition of Westfield. Scheme record date is 01 June 2018.
8 – Choose a file: to help keep your records in order, you can attach the Scheme Implemented letter.
9 – Click ‘Save this trade’ button.
Example
If you owned 200 shares of WFD as of the Scheme Record Date, the Capital Return Value: AUD $703.0729 = 200 WFD shares x USD $2.67 x 1.316616 (USD:AUD).
How to Handle OneMarket Capital Distribution
10 – On the Westfield Corporation Individual Holding Page, click ‘Enter a new Trade or Adjustment’ button.
Based on the OneMarket Demerger Booklet, set the:
11 - ‘Paid On’: 07 June 2018
12 - ‘Ex-Date’: 01 June 2018
13 - ‘Unfranked Amount’: A$0.0677 x number of WFD shares held on Scheme Record Date
14 - ‘Comment’: Demerger of OneMarket Limited from Westfield Corporation. Scheme record date is 01 June 2018.
15 - Choose a file: to help keep your records in order, you can attach the Cost Base Information.
16 - Click ‘Save new payment’ button.
Example
If you owned 200 shares of WFD as of the Scheme Record Date, the dividend payment: AUD $13.54 = 200 WFD shares x AUD$0.0677.
Westfield Corporation merge with Unibail-Rodamco
17 – On the Westfield Corporation Individual Holding Page, click on ‘Holding Settings’ tab.
18 – Click on ‘Merge this holding’ button.
Note: Shareholders have the options to either elect to receive Unibail-Rodamco Stapled Shares on the Euronext stock exchange or Unibail-Rodamco CDIs on the ASX stock exchange, please follow the steps for the option you elected for.
Elected for Unibail-Rodamco CDIs on the ASX stock exchange:
19 – On the Merge Holding pop-up window, set the ‘Date of Merge’ as 01 June 2018.
20 - Click the ‘edit’ link.
21 - In the ‘Market price of cancelled holding’, field type 5.32.
22 – Type Unibailrodawestfield or ‘URW’ in the search field and select ‘ASX:URW Unibailrodawestfield’ from the dropdown list.
23 Type in the ‘Quantity’ field: (0.018¹ x WFD shares held on Scheme Record Date x 20 CDIs²)
¹ Rounding from 0.01844. The number of New Unibail-Rodamco Stapled Shares underlying the New Unibail-Rodamco CDIs that a Westfield Securityholder is entitled to receive is subject to rounding.
² Based on an exchange ratio of 20 New Unibail-Rodamco CDIs for each New Unibail-Rodamco Stapled Share that a Westfield Securityholder is entitled to receive.
Example If you owned 200 WFD as of the scheme record date, the quantity is 72 = 200 x 0.018 URW shares x 20 CDIs*.
*CHESS Depositary Instruments (or CDIs) are used to enable trading on the ASX of financial products issued by entities domiciled in countries whose laws may not recognise uncertificated holders or electronic transfer of title through CHESS. More information on the ASX website.
24 – In the ‘Comments’ field, type a note for your reference of why this acquisition happened.
25 – Choose a file: to help keep your records in order, you can attach the Scheme Implemented letter.
26 – Click ‘Save changes’.
The Unibailrodawestfield Individual Holding Page will load with the merged shares added.
The Westfield Corp holding will still appear on your Portfolio Overview Page when you have enabled the Open & Closed Positions setting (include sold holding).
The Portfolio Overview Page will load.
OneMarket Demerger
27 – Click on the ‘Add or Import Holdings’ button.
28 – On the left hand side of the page, search for OneMarket or OMN to locate the security.
29 – Select ‘Opening Balance’.
30 – Select ‘Opening Balance Date’ as 01 June 2018.
31 – Input ‘Cost Base’: AUD$1.3527 x number of OMN shares held on Scheme Record Date
32 – Type ‘Quantity’ as ‘1 OneMarket Share for every 20 Westfield shares’ they hold as at the Demerger Record Date.
“If, as a result of this calculation, the number of OneMarket Shares is not a whole number, the number will be rounded up to the nearest whole number of OneMarket Shares.” As stated in the Demerger Booklet
33 – Click ‘Save this holding’.
Example If you owned 10 OMN as of the scheme record date, the: Cost base is $13.527 = 200 WFD shares / 20 = 10 OMN Shares x AUD$1.3527
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.
Westfield Shareholder that elected to received Unibail-Rodamco Stapled Shares rather than Unibail-Rodamco CDIs:
19 – On the Merge Holding pop-up window, set the ‘Date of Merge’ as 07 June 2018.
20 – Click the ‘Edit’ link.
21 - In the ‘Market price of cancelled holding’, field type 5.32.
22 – Type Unibail-Rodamco-Westfield or ‘URW’ in the search field and select ‘EURONEXT:URW Unibail-Rodamco-Westfield’ from the dropdown list.
23 – Type in the ‘Quantity’ field: WFD shares held on scheme record date
Example If you owned 200 WFD as of the scheme record date, the quantity is 200
24 – In the ‘Comments’ field, type a note for your reference of why this acquisition happened.
25 – Choose a file: to help keep your records in order, you can attach the Scheme Implementation letter.
26 – Click ‘Save changes’.
The Unibail-Rodamco-Westfield Individual Holding Page will load with the merged shares added.
The Unibail-Rodamco-Westfield holding will still appear on your Portfolio Overview Page when you have enabled the Open & Closed Positions setting (include sold holding).
Now follow the steps for the OneMarket Demerger
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 August 19, 2021 UTC