The sale of St Barbara Leonora assets to Genesis was completed with effect on 30 June 2023, with an in-specie distribution of all Genesis shares received as part consideration for the Asset sale to eligible St Barbara shareholders. (In Specie Distribution). Holders of SBM shares will receive 1 GMD share for every 4 SBM shares held at record date.
The ATO link can be found here: https://www.ato.gov.au/law/view/document?docid=CLR/CR202372/NAT/ATO/00001
Navigate to the Portfolio Manager
- Select your portfolio that holds SBM
- Under Securities Held, click on SBM.
- Scroll down the page to the “Trades and Adjustments” section
- Click on the button called “Other transactions”
- From the drop-down menu, click on “New Capital Return”
Below is the dialogue box:
- Declared on : 11/07/2023
- Per Share ($): $0.3042
- Notes (Optional): Received 1 GMD share for every 4 SBM, for sale of Leonora Assets.
- Click the “Save” button
Next, scroll up to the top of the page click on the grey button called ‘Back to Securities’.
You are now in the securities held screen and click on the blue ‘New Buy’ button to enter in your Genesis Minerals Ltd shares.
In the screen, enter the following:
Security Code: GMD
Date: 11/07/2023
No of Shares: Is your SBM shares divided by 4 IE 10,000 SBM shares entitles you to 2500 GMD shares, (10000 divided by 4).
Price: $1.21
Brokerage: Zero
Notes (Optional): Received 1 GMD share for every 4 SBM, for sale of Leonora Assets.
Click “save” and you have now accounted for the Scheme of arrangement for the sale of its Leonora assets to Genesis metals Limited.
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.