help - no election made, page-2

Seeing as the takeover was approved by the majority of holders, as a non-voter or even as a yes voter, or a no voter, you are carried through with the default holder position which is each PIH turned into 0.24 of a BIP on the New York or Toronto exchanges.

The following is a rough guide only requires confirmation or correction.



The holding records are with the Toronto Exchange, you will receive dividends with 10% non-resident tax removed. The holding may remain in this state for whatever period you remain inactive with them. You will get a holding statement from either the exchange or from BIP.

If you want to sell or buy, you will need to make arrangements with your broker, the fees appear to be about double usual brokerage in Australia.

As well as that, the holding status for trading (equivalent of CHESS here) is noted by a subsidiary of Bank of New York, they charge a (round figures) $20 fee for each stock per holder par month direct to the holder. I am not certain if this actually applies if no international trading account is established.

USA Non resident tax applies to dividends as above, not sure if the same applies to capital gains amounts though when trading.

there may be differences in charges depending on which broker you use in Aust.

more info and better info required guys...

thanks