BGL does not provide accounting or taxation advice. The following is designed to act as a guide for Simple Fund 360 users. It is not designed to be accounting or tax advice and should not be taken as a strict guideline. Other methods that are more suitable may be used instead of these steps.
On 7 December 2018, Fairfax shareholders were issued with 0.3627 new ordinary shares in Nine and received A$0.025 of cash in exchange for each ordinary share they held in Fairfax.
How to process in Simple Fund 360
This merger can be automatically processed form the Corporate Actions Console available in Simple Fund 360.
From the Main Toolbar, navigate to Investments --> Corporate Actions.
From Corporate Actions, locate the FXJ.AX Takeover/ Merger and select Process.
|New Investment Account
You may need to create the 77600/NEC.AX Account by selecting New Investment Account beside "Please select the account required for the corporate action."
|Units in New Investment
The Units in 77600/NEC.AX will be automatically calculated based on your units in Fairfax multiplied by 0.3627
|Total Cash Proceeds*
|Cash received will be automatically calculated based on your units in Fairfax multiplied by A$0.025.
|Determine whether you wish to use Scrip for Scrip rollover. To process with rollover relief select Yes, to process the Merger without switch the toggle to No.
|Process Corporate Action
|To complete the Merger select Process Corporate Action.
* If the fund is using data feeds the Total Cash Proceeds will automatically match against your bank. Otherwise, a Journal will be required to clear account 94910. Example Dr 60400 Cr 94910.