This page explains how to process the in specie distribution of Centuria Capital Limited (CNI) and the creation of the new stapled entity.
Centuria Capital Limited made an in specie distribution of the units in Centuria Capital Fund to all Centuria shareholders on 17 October 2016 (Payment Date) to form a new stapled entity. The stapled security consists of one share in Centuria Capital Limited (Company) and one unit in Centuria Capital Fund (Trust). The distribution equating to $0.680562 per share which is the market value of each unit in Centuria Capital Fund at the time of the transfer. The new stapled securities will commence trading on 18 October 2016 under the ASX listed code CNI.
The distribution will be made partly as a return of capital and partly as a franked dividend as follows:
- Return of Capital Component: $0.507866; and
- Dividend Component: $0.172696.
Scenario: 15,039 units of Centuria Capital Limited shares were held before the payment date. Sample In Specie Distribution Statement.
Step 1: Process the Dividend - Cash event for the dividend amount. The amount is $0.172696 per unit.
Step 2: Process the Capital Return event for the return of capital amount. The amount is $0.507866 per unit.
Step 3: Process the Capital Call event for the cost base of the new stapled security against the same investment account. The amount is $0.680562 per unit.
Step 4: Match the above events
Step 5 (Optional): Update the Security Description and Reporting Categories.
This step is optional. The issue description and reporting categories can be updated by
Navigating to Fund Level > Investments > Browse Holding Accounts
- Click on the account
- Click Edit
- The Issue Description should be changed from Centuria Capital Limited to Centuria Capital Group - Stapled Securities
- The reporting categories should be changed from Listed Shares to Listed Trusts are as shown below:
Reporting Categories Before
Reporting Categories After
Sample In Specie Distribution Statement