In what will be a fortnightly recurring new thread, I’ll be updating any mergers/corporate actions that the Sharesight team has received queries about in the past two weeks. If you have a merger or corporate action that isn’t addressed, drop the ticker codes in this thread and I’ll update with the steps for how to handle this in Sharesight
The GSK:LSE /Haleon (HLN:LSE) demerger and consolidation:
The first step would be figuring out how the book cost gets apportioned between GSK and HLN. According to the notice it is to be determined based on the opening prices on the date of the merger and this announcement outlines the ratio to be approximately 81.84% GSK : 18.16% HLN.
Go to the holding page of GSK and click ‘enter a new trade or adjustment’.
Record date 18 July 2022, Trade type: adjust the cost base and enter the demerger ratio as below in the demerger calculator:
Sharesight will automatically calculate the cost base reduction as circled above based on your cost base. Note down this amount.
Add HLN as a buy trade in your portfolio for 18 July 2022. You should receive 1 HLN share for each GSK share held on 18 July 2022. Buy price should be [reduced cost base noted in step 4/ number of HLN shares allocated].
The consolidation of GSK shares should take place on 19 July and I couldn’t find the ratio on this in any announcement. Usually, the consolidations are automated in Sharesight, but we are yet to receive any information on this consolidation from our data provider.
Can you please help me with tassel group. So far I’ve entered ‘return of capital’ and the amount. They were bought out by a Canadian company so longer listed on the ASX
Hi @Salpal is this the salmon company Tassal? For TGR (Tassal Group), if you still own the shares when they got acquired by Aquaculture Australia, you just need to add a sell trade with the details below and save the trade to close off your position. The capital gain will get reflected in the CGT Report.
Trade date: 14/11/2022
Price: $5.235
Quantity: Full
The merger of Nuveen Preferred and Income Fund (JPS) and Nuveen Preferred & Income Securities Fund (JPT) into Nuveen Preferred & Income Opportunities Fund (JPC) has several implications for your JPS shares. On November 6, 2023, this merger was successfully completed, resulting in the consolidation of assets under JPC’s management, which became the largest among listed preferred securities closed-end funds. The assets and liabilities of JPT and JPS were acquired by JPC, and the common shares of JPT and JPS were converted to newly-issued common shares of JPC.
As a JPS shareholder, your shares were converted to JPC shares based on a specific exchange ratio determined by the closing net asset values on November 3, 2023. For JPS, this exchange ratio was 0.98887768. This means for each share of JPS, you would receive approximately 0.989 shares of JPC. The goal of this merger was to create a larger fund with potentially lower net operating expenses, enhanced earnings potential, and increased trading volume on the exchange for common shares
