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Perpetual Limited (PPT) Acquisition of the Pendal Group Limited (PDL) Scheme of Arrangement - January 2023.

The acquisition of Pendal Group Limited (PDL) by Perpetual Limited (PPT), scheme was been implemented on the 23 January 2023 .

The scheme record date is 16 January 2023. Shareholders will receive 1 Perpetual Limited share for every 7 Pendal Group Limited shares and any fractional entitlement rounded up to the nearest whole number, $1.615 as a capital reduction and a fully franked dividend of $0.035, (The dividend was paid on the 15 December 2022), and automatically appears in the portfolio manager.

Instructions below are for PDL investors who have acquired and PPT shares on the implementation of 23 January 2023. The ATO has issued the tax ruling for this demerger Class Ruling CR 2023/9.


1. Click on the 'Portfolio’ tab and then click on the appropriate portfolio under ‘My Portfolio(s)’, which includes the PDL shares.
2. Under the ‘Securities Held’ section, find the row Pendal Group Limited (PDL) and click on the code “PDL”
3. Please scroll down to the “Trades and Adjustments” area and click on the button called “Other Transactions” and then on “New Capital Return”.



4. Please enter in the following:
    a) Date: 23/01/2023
    b) Per Share ($): 1.615
    c) Then click on the save button found in the bottom right-hand corner.


5. From “Trades and Adjustments” area, click on the button called “Other Transactions” and then on “New Reconstruction”.



6. Please enter in the following:
    a) Date: 23/01/2023
    b) Code: PPT
    c) Quantity: Is the number of Pendal shares you own divided by 7.

        In this Example: 1295 Pendal shares divided by 7 = 185 PPT shares
    d) Cost base Rolled over (%): 100



7. Click on the “Trade Allocation Tab” and check your “Allocation of Trades” method.



8. Click “Save” and you have accounted for the acquisition of Pendal Group by Perpetual Limited in the Portfolio Director.


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 with any questions you may have.
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.