Paladin Energy Ltd (ASX: PDN) transferred 98% of the issued shares to creditors and other investors for no consideration pursuant to a court order. How do I process this in Class?
CGT event A1 happened on 1 February 2018 (Implementation Date) when 98% shares in Paladin from existing shareholders were transferred to creditors and other investors. After the transfer, shareholders retained 2% of the shares they held prior to the restructure. Shareholders of Paladin Energy Ltd did not receive any payments when the shares were transferred.
Navigate to Fund Level > Transactions > Investment - Sell > Listed Security Disposal
Process a listed security disposal event to sell 98% of PDN shares for zero consideration.
For example, if the fund held 10,000 PDN shares prior to the restructure, you will record 9,800 units in the disposal event to crystallise the capital losses.