So out of curiosity unless you need the cash right now, why would you sell for ~$2.20, when in the worst case scenario you accept the wah nam offer and get about $2.80 ($1.50 cash and $1.30 for 18 wah nams on the HK exchange at about 7.2c)???
Looks like gringo has considered this and is looking to buy around $2 and extract $2.80 like this. Is that right gringo?
What are the capital gains implications of the offer?
for eg. If I own 100,000 BRM's that I paid $1 each for over 12 months ago, making my cost base $100k (ignoring brokerage).
Under the current offer I would get $150k cash and 1.8M wah nams. Would that constitute a capital gains tax 'event' as far as the ATO is concerned, or do I just pocket the $150k cash and say my cost base for the 1.8M wah nams is $100k (what I paid for the BRMs) ?
Does anybody know?
BRM Price at posting:
$2.11 Sentiment: None Disclosure: Held
