Myer Holdings Limited (MYR) and Premier Investments Limited (PMV), entered into a share sale agreement for the sale of Premier Investments Limited apparel division comprising of: acquired Just Jeans, Jay jays, Portmans, Dotti & Jacqui E. By an in-specie distribution of $6.46 consisting of a capital reduction of $0.81, and shares in Myer Holdings Limited. The in-specie distribution is fully franked and the sale being completed on 26 January 2025. Eligible Myer Holdings Limited, will receive 7.2 MYR shares for each 1 PMV share held on the record date: 30Th January 2025, with a payment date of 6Th February 2025.
The ATO ruling can be found at this link: https://www.ato.gov.au/law/view/document?docid=CLR/CR202521/NAT/ATO/00001
Instructions below are for PMV investors to account for the merger and the in-specie dividend.
- Click on the 'Portfolio’ tab and then click on the appropriate portfolio, under ‘My Portfolio(s)’, which includes the PMV shares.
- In the ‘Securities Held’ section, please click on the code PMV.
- In the new window, under the ‘Trades and Adjustments’ area click on the ‘Other Transactions’
- In the drop-down menu click on ‘New Capital Return
5. Please enter the following into the pop-out window:
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- Declared on: 26/01/2025 and received on: 6/02/2025
- Holding will be your current PMV share holding
- Per Share : $0.81
- Total received ($) will automatically calculate this figure.
- In the Source funds from cash account drop down menu, please select none, if you have a bank account attached to this portfolio
- In the notes box, we suggest entering a note, referencing the capital return for the sale of the apparel division to Myer Holdings Limited.
- Then Click on the ‘SAVE’ button, found in the bottom right-hand corner.
You will need to manually add in the franking credit for your PMV shares.
Here are the instructions:
1. Scroll down to the "Income and Expenses" area
2. Click on the button called "New Dividend"
3. In the new window, please record the following:
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- Payment Date: 6 February 2025
- Ex-Dividend Date: (This is optional): 30 January 2025
- If you have a bank account attached to this portfolio, in the “Deposit funds to cash account” drop down menu, please alter to “None”.
- In the “Notes” box, ** Optional: You may record that in lieu of cash you have received XX number of MYR shares to account for the sale of the apparel division from PMV to MYR.
4. Click on “The Income” tab and add in your franking credits into the correct box, labelled 11U, as per you’re In Specie Dividend Statement from PMV. Taken from your distribution statement.
6. Scroll up to the top of the screen and click on the ‘Back to Securities’ button
7. Click on the ‘New Buy’ button and enter in the following:
- Code: MYR
- Trade Date: 6 February 2025
- No of Shares: Is your current PMV holding multiplied by 7.2 ** Shares will be rounded down to the nearest whole number. Please check to your distribution statement.
- Price $0.89
- Fees: 0 (Zero)
- Note: Optional: You can enter the following: EG MYR shares to account for the sale of the apparel division from PMV to MYR.
6. Click “Save” in the bottom right-hand corner and you have accounted for the MYR/PMV in-specie distribution in the Portfolio Director.
Please Note:** If your account is connected to bell direct online, click the drop down arrow next to new buy and select new manual buy. The following screen in blue and white will appear.
Our team in the office are ready and willing to assist you with any questions you have about any of the content above. Please give us a call on 1300 676 333 or email us at support@lincolnindicators.com.au with any questions you may have.
However, we are not licensed to provide tax advice and therefore anything which relates to tax or your personal circumstances we will not be able to answer. In order to have personal tax or finance questions answered, you will need to seek the services of a licensed practitioner who will be qualified to answer your queries.