They aren't cancelling any PPK shares so the so the 45 holding (not 90) is not applicable, unless of course you sell your PPK shares.
They are just paying a dividend (income) but instead of cash, they are giving a different type of asset.
I think it said price to be determined, but let's say you had 3,500 PPK, you would receive 1,000 LIS and the price of LIS is 10c, so you received net income of $100 (ie $130 taxable income with $30 franking credit). They will issue a dividend statement with the details, so you don't have to even think about it.
PPK Price at posting:
40.5¢ Sentiment: Hold Disclosure: Held
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