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thevinnys

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23/08/23

10:42

Post #: 69496394
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Originally posted by StockChowder: ↑

Sorry King, I just want to clarify. You are saying to limit losses when you are forced to sell due to your SMSF? I have a SMSF as well and had a response back from the IHL accountant they recommended and effectively, if your shares are held within your old HIN/SRN under SMSF, you will just get shares allocated for the same amount under IXHL if you are with a platform that has international enabled.

Not sure where everyone is getting this info, unless you are using a broker that is holding the shares on behalf of your SMSF.

Response from Michael Schembri - MLS Finanical (IHL provided the free referral)

"Importantly, you have indicated you hold the shares in a SMSF. This in most cases means you will be fine if you hold the shares via a normal trading platform, a broker or if they are register issued (SRN). If this is the case, Incannex will atomically have there your shares converted into fully tradable NASDAQ shares. Incannex manages the entire process with the Australian Share Registry, ASX, NASDAQ and the newly appointed US Transfer Agent (US Share Registry). This will be detailed further in the meetings as outlined in the announcement on 10th August 2023 (attached). If your fund holds these shares via a wrap or IDPS platform (that is on an investment account that allows a number of managed investments and ASX300 shares) you may be impacted. This is because most of these platforms do not allow international shares. Let me know if this applies to you and we can discuss further. "

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Hey Mate,

Easy to get confused with lots of moving parts/terms

I think King Kev's plus some other holders' situation is relevant to the bottom part of the response that you posted.

"If your fund holds these shares via a wrap or IDPS platform (that is on an investment account that allows a number of managed investments and ASX300 shares) you may be impacted. This is because most of these platforms do not allow international shares."

This is not to be confused with a privately held SMSF which is what I have and as such am not beholden to an Industry / Retail managed fund structure and rules.

Good luck @StockChowder

Last edited by thevinnys: 23/08/23

IHL Price at posting: 9.7¢ Sentiment: Buy Disclosure: Held
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