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SPA3 Investor / Re: TPG proposed merger
« Last post by PeterM on 25/06/2020, 04:32:45 PM »
TPG Special Dvidend Record Date is July 1st .  I assume that the 1:1 TPM to new TPG shares plus special Dividend plus new 2:1 Shares in TUAS Ltd will even things out if you just held on to them.  It's a big risk isn't it.?

Just that TPG shares will be suspended after 29th June - until trading again on 13th July.! :eek:..that's assuming they are allocated before that date... if any thing like a SPP then I'd expect another week after that before I could act on them.
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SPA3 Investor / Re: QAN capital raising
« Last post by Nick Rossetto on 25/06/2020, 04:00:17 PM »
No I don't reckon - would rather not have the option to be honest!
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SPA3 Investor / Re: AustralianSuper
« Last post by Karl Stanguts on 25/06/2020, 12:34:43 PM »
Decided to have go with ESUPERFUND.COM.AU  - as planning on just doing share trading - not property of any of that malarky.    Although the brokerage is much more than say Saxo - I figure it is worth it as by using their linked platform getting the Tax done will be smoother than if I needed to submit trading details to them  - as with this mob you cannot ring anybody it is all with a FAQ email. Fingers crossed.

Hi PeterM,

Have a look at:  https://www.esuperfund.com.au/trading/australian-shares/how-it-works

I have been using esuper for the last few years, and I use Selfwealth ($9.50 fixed brokerage) for my ASX trading through my SMSF.  I still have the ebroking account they setup with the SMSF, but have never transacted through it.

A little more work come tax time to upload the required documents from Selfwealth to esuper (as they are not automatically linked), but pretty straight forward.

Karl.
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SPA3 Investor / Re: AustralianSuper
« Last post by PeterM on 25/06/2020, 12:21:33 PM »
Decided to have go with ESUPERFUND.COM.AU  - as planning on just doing share trading - not property of any of that malarky.    Although the brokerage is much more than say Saxo - I figure it is worth it as by using their linked platform getting the Tax done will be smoother than if I needed to submit trading details to them  - as with this mob you cannot ring anybody it is all with a FAQ email. Fingers crossed.
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SPA3 Investor / Re: QAN capital raising
« Last post by PeterM on 25/06/2020, 12:09:43 PM »
They cancelled the Dividend and now want more Capital ?  Are you thinking of Buying into the SPP - I assume as it would be below action price of 4.09.   Risky as if get a Sell before you get the shares you are stuck with a small tranche in limbo.
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SPA3 Investor / QAN capital raising
« Last post by Nick Rossetto on 25/06/2020, 10:54:34 AM »
QAN raising capital now at $3.65. I am a holder but don't have this outcome in my plan. Is the process just to take the SELL signal regardless if / when triggers? Any comments welcome and I wil have to update the plan accordingly.
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SPA3 Investor / Re: Allergan PLC (AGN.XNYS) Delists
« Last post by Vincent Duggan-Jones on 22/06/2020, 09:12:03 AM »
Good morning all,

Please take note of the below response from SAXO in relation to Allergan TAX fees, as well as the attached documents in relation to these comments,

"The Tax has been withheld correctly as a result of a section 302 event under US tax regulation. Please note that it is a very specific part of the regulation
The withheld amount equals 30% which can be refunded if the client certify/document themselves within a certain timeframe (normally 60 days).
The event falls under US tax regulation as one part of the merger is US incorporated.

Please find some elaborating comments on section 302 events

On the matter of the withholding under section 302, first just to provide a brief background  ……….. US tax code section 302 is an anti-abusive regulation created to eliminate transfer of ownership to related parties by escaping taxation through capital treatment.  The regulations are applicable to events in which a corporation makes a tender offer for its own shares, mergers which include both cash and stock consideration that are taxable only to the extent of the cash received, and certain other corporate actions. 

The code in effect applies when a Corporation redeems its stock in exchange for property, whether cash or some other property. It is this receipt of property under Section 302 that is taxable and as such requires shareholders to meet 1 of 3 tests in order to avail capital treatment. If none of the 3 tests are met, the cash consideration from a merger is treated as divided income which when paid to non-U.S. person is subject to 30% NRA/FATCA withholding or reduced treaty rate withholding, if available. However, NRA/FATCA withholding is eligible for refund if the beneficial owner presents a written certification confirming either (i) a meaningful reduction in their proportionate interest in the issuer, or (ii) a complete termination of their interest has occurred.

The certification process requires the beneficial owner of the payment subject to the Section 302 tests (known as a meaningful reduction in the proportionate interest) to provide a “Tender” or a “Merger” Certificate and specify whether amounts to be received should be classified as either (i) a payment in exchange for stock, or (ii) a dividend.

Please be advised that the NRA/FATCA withholding is suffered at source and not collected by Saxo Bank as we do not act as Withholding Agent.
From an adjustment perspective, our Custodian requests that the original Sec 302 certification be presented within 60 days of payment.

Please review the attachments to this email.
They provide some basic instructions on how to calculate and complete the required information for certification"

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SPA3 Investor / Re: TPG proposed merger
« Last post by Annabella on 14/06/2020, 06:27:46 PM »
Thanks Gary
I assume Sharewealth will notify us whether the historical data will be maintained 
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SPA3 Investor / Re: TPG proposed merger
« Last post by Gary Stone on 14/06/2020, 05:59:53 PM »
Annabella,

Quote
Will it still remain in the SPA Investor universe of stocks?

To remain in the SPA3 Investor universe the historical data will have to remain in Beyond Charts. We have asked our data provider what will happen with the data and don't have a response yet.

If it is confirmed that the historical data will not be retained then the SPA3 Investor ASX Public Portfolio will sell before TPM renames to VHA. If it is retained and the corporate action doesn't result in a big change to the TPM edge as per Beyond charts (Expectancy = 2.69) then this portfolio will remain in the position.

We can't advise what you should do but here are some considerations:
1. When mergers/takeovers occur typically 'normal' trading in the stock is suspending leading up to the event. Although that doesn't appear to be the case with TPM at this  stage.
2. TPM has announced a special dividend to be paid to the shareholder. Appears this won't happen before 24 June. Google for details.
3. Typically there is a lot of paperwork after a merger. What is your attitude about paperwork?

It is a good idea to learn from this scenario. What does your Investment Plan say about mergers and takeovers?

In SPA3 Trader the typical rule that we introduced years ago was to apply a time limit after a merger/acquisition date is announced. a similar rule can apply here.

Trust that helps.

Regards,
Gary
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SPA3 Investor / TPG proposed merger
« Last post by Annabella on 13/06/2020, 01:19:09 PM »
HI Sharewealth & Co
Just wondering what to do with TPG shares in light of the proposed merger - ie - wait & sell when we get a signal or sell now in anticipation of the merger? Will it still remain in the SPA Investor universe of stocks?  Regards Annabella
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