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Subject Author Date
Coles Group Scheme of Arrangement (Australia) johnosnr 11-27-2007
Posted by johnosnr on November 27, 2007, 8:48 pm
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 Am using Personal Plus 2008 (Australian Version) to mange Personal
Finances and share portfolio.

Under a takeover scheme, by Wesfarmers, my 6oo odd Coles shares
have been replaced by 100 odd Wesfarmers shares, 80 odd Wesfarmers
PPS shares and a cash refund.

Please, suggestions of 'transactions' I should (could) use to
process the scheme.

Regards
John

Posted by vwq47 on November 27, 2007, 9:37 pm
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 Excellent question. . . I look foward to suggestions too.

Dave

> Am using Personal Plus 2008 (Australian Version) to mange Personal
> Finances and share portfolio.
>
> Under a takeover scheme, by Wesfarmers, my 6oo odd Coles shares have been
> replaced by 100 odd Wesfarmers shares, 80 odd Wesfarmers PPS shares and a
> cash refund.
>
> Please, suggestions of 'transactions' I should (could) use to process the
> scheme.
>
> Regards
> John



Posted by Eric on November 28, 2007, 8:20 pm
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The Wefarmer's web site may have a more exact help for this but ...

Cash is a return of Cap on Coles or Sales of fractional shares received in
others.

Easiest is to enter a sale of Coles at cost and then a purchase of the
others. Apportion the receipt from Coles as the purchase cost of the others
by using the average of the opening and closing prices on the date of
transaction for each and the number of shares received of each.

In the US this would usually be a tax free transaction and the effective
date for the ownership of the new shares would be the ownership date of the
original Coles shares. There would be no Cap Gains on the Coles shares (sold
at cost) and Quicken would use the artificial purchase date above in its
reports and this would have to be corrected for short/long term sales
determination.

Eric

> Am using Personal Plus 2008 (Australian Version) to mange Personal
> Finances and share portfolio.
>
> Under a takeover scheme, by Wesfarmers, my 6oo odd Coles shares have been
> replaced by 100 odd Wesfarmers shares, 80 odd Wesfarmers PPS shares and a
> cash refund.
>
> Please, suggestions of 'transactions' I should (could) use to process the
> scheme.
>
> Regards
> John



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