Do we take the last TAH closing price at implementation date being our new cost base for the issued shares?
No, I believe this is the mud map to work out the new cost base for the TAH holdings.
Assume 5000 Tatts shares @ $3.00 = Total $15,000
Apply capital return @ 26.5 cps
5000 x .265 = $ 1325.00
Subtract the cap return from total cost.
$15,000 - 1325.00 = $ 13,625.00
Next work out the number of TAH shares @ .80 per TATTS share
5000 X .80 = 4000 shares
Now divide the total cost after the cap return by the number of TAH shares
$ 13625.00 / 4000 = $ 3.40625
You should now have 4000 Tabcorp shares in your spreadsheet at an average price of $ 3.40625 and a total cost of $ 13,625.00
This does not take into account brokerage etc , but if you work back from the current total cost of the Tatts holding the maths should work the same.
This is not tax advice, I am not an accountant or tax lawyer. If unsure seek professional advice, I know I will be to double check my calculations.
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