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Zen Section
id570555664

Instructions for Simple Fund 360


This guide will look at the three general scenarios that could occur when processing the demerger:

  1. The fund receives the COL shares and applies demerger relief
  2. The fund receives the COL shares and does not apply demerger relief
  3. The fund being a Small Shareholder and taking part in the Sale Facility

 

Receiving the COL shares and applying demerger relief

  1. Navigate to the Corporate Actions screen:
    Include Page
    IL:_ScreenAccessCorporateActions
    IL:_ScreenAccessCorporateActions


  2. Under the Action Required tab, select Process next to the demerger corporate action


    Info
    titleAcquisition Date

    Notice that the Purchase Date of the WES shares will be used as the acquisition date for the COL shares:



  3. Select New Investment Account to create a new Chart Account that will contain the newly demerged Coles Group Limited security:


  4. The rest of the details will be prefilled. Click Process Corporate Action to finish.


Receiving the COL shares and not applying demerger relief

  1. Process as per above, noting that the acquisition date of the COL shares will still be the original date when the WES shares were acquired (CR 2018/59 para. 48)

     

    the demerger normally in the Corporate Actions screen as done in scenario 1.

  2. Record the following simultaneous disposal and repurchase transaction:

    Transaction Date: 28/11/2018
    Contract Date for COL shares: 28/11/2018

    AccountUnitsDR ($)CR ($)
    77600/COL.AXCOL shares receivedCOL shares received x $12.8459 
    77600/COL.AXCOL shares received COL shares received x $12.8459

    Ensure that the purchase transaction for the COL shares is backdated to the original purchase date for the WES shares.

     

Taking part in the Sale Facility

  1. Process the demerger normally in the Corporate Actions screen as done in scenario 1.

  2. Record the following disposal transaction:

    Transaction Date: 02/01/2019

    AccountUnitsDR ($)CR ($)
    91000 - Bank Data ClearingN/ACOL shares held x $11.9921 
    77600/COL.AXCOL shares held COL shares held x $11.9921

    The amount in the Bank Data Clearing Account will need to be matched to the sale proceeds received by the bank account.

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