Amulet, Thanks, yes I did see that they where seeking a class...

Amulet, Thanks, yes I did see that they where seeking a class ruling from the ATO....altough I assumed this was as good as a done deal. Will wait to see if there is any follow-up advice.

The way it is explained (not very clearly)in the Scheme booklet, is you use their calculation to reduce the cost base of the original LGL shares value by a proportion of the cash component (then devide the number of new NCM share into this vale to get the cost per share). I assume this has the effect or reducing the value of the cost base and therefore eliminating the need to declare the cash separately (ie. recucing the cost base this way would inclrease any future capital gain by a value equivalent to the cash you recieved).
All not very clear...additionally not sure on what the nominal market value of the new NCM share were (this is needed for the calculation), the scheme booklet implies a price of $33.31 (page 23, closing price 21 July), but another Hotcopper poster (bf) says its $37.86...which would be very good if that is the case.
I hope some more information is comming to clear this up.
Cheers,