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Iluka Resources Limited (ILU) Demerger of Sierra Rutile Holdings (SRX) – August 2022

Iluka Resources Limited (ILU) demerger of Sierra Rutile Holdings (SRX) a West African focused mineral sands producer and developer.  Eligible shareholders will be entitled to receive one SRX share for every ILU share held at record date 28 July 2022.

  1. Click on the 'Portfolio’ tab and then click on the appropriate portfolio under ‘My Portfolio(s)’, which includes the ILU shares.
  2. Under the ‘Securities Held’ section, find the row Iluka Resources Limited (ILU).
  3. Click the drop-down button next to ‘Transactions’ on the same line and select ‘New Reconstruction’.

  4. In the Reconstruction window, enter the following:
    • Date as 04/08/2022.
      The number of shares participating, should be the same as the number of ILU shares owned on this date.
    • Under “New holdings for which rollover relief applies” Enter the following:

      • Code: ILU
      • Quantity: same amount as “number of shares participating” and
      • Cost base rolled over (%)96.52%
      • Click on the plus symbol (+) to add another line.
      • On the new line, Code: SRX
      • Quantity: same amount as “number of shares participating” and
      • Cost base rolled over (%): 3.48%


  1. Then click on the “Trade Allocation Tab” and check your “Allocation of Trades”



Click “Save” and you have accounted for the ILU/SRX demerger in Portfolio Director


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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.