AKE (ASX) Merger: Yes or No

Originally posted by exee: ↑

As a holder of AKE in my super fund, the greatest concern is that I will be forced to sell following a successful merger, which would lock in both a low sale price and a capital gain that I would like to avoid.

I have sent this query to Australian Super:

I currently hold Allkem (AKE) shares in my MemberDirect account. AKE is proposing a merger with US based Livent (LTHM) and, if successful, will result in Australian shares being replaced by CHESS Depositary Interest (CDI). Can you please advise if I will be allowed to continue to these hold CDIs through Australian Super Member Direct or if I will be forced to sell this holding due to Member direct holding rules?

The response did not directly answer my question. However, based on previous events, I expect that a corporate actions notice will eventually provide information on how to vote on the merger.

It is still at early stage of this corporate action, we won't be able to confirm what will be happen to AKE shares.
AustralianSuper generally will send a notification to you via Alert tab or in corporate action section in the Member Direct account. …

There are no alerts or notices for AKE in the “corporate actions” section at this time.

Exee

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I will be interested in the outcome as I have AKE shares in HostPlus.

Perhaps there are some PLL holders out there that have already gone through this process when the company switched over to become an American company.

It will only apply to members that hold their shares in an industry super fund.

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