MLT SOL Corp Action that is…
Re: The MLT SOL takeover in Oct 2021
We advise that is available for users to process from the corp action screen. Please let us know if any concerns.
Thanks Eric… yes I see the CA, the issue for me is finding the market value of the shares recieved to put in the CA field.
The Corporate Action is not required and will not process this correctly.
The cost base of BHP shares remain the same as before and so do the number of BHP shares held.
Think of this as a usual franked dividend received by your fund. The Dividend is booked against BHP as income and the debit which would normally go to the bank account, instead then goes to create a new asset WDS by the number of shares with cost base of $29.76.
Too easy… Thank You so much
Good afternoon everyone.
Thank you for your feedback on the BHP and Woodside merger corporate action.
Based on multiple client feedbacks, we have published an FAQ / help file on this corporate action.
Please find the link below
Please note that as we are still waiting for ATO’s class ruling, the article is subject to further review.
Thank you all for your patience and please feel free to provide us with any further feedback in relation to this.
Have a great afternoon everyone.
Thank you, that is most helpful. Those instructions are very easy to follow.
Just one question - I do not have a corporate action option that I can see in BGL360?
Thank you for your feedback.
It is great to hear that the instructions are easy to follow.
To answer your question, we have now removed the BHP and WDS corporate action from Simple Fund 360.
Based on numerous client feedback, the corporate action data was not accurate.
Therefore, we will await for ATO’s class ruling to be released first.
The team will then review the class ruling before we reinstate the corporate action.
I hope that helps.
Thanks very much Justin, doing the journal entry is just as easy so no problem,
How soon will BGL release the corporate action template to be used?
Hi Greg, did you find the market value of the shares received ?
No, can not say I have a difinitve answer… have had it on the back burner, thanks for the reminder.
Do you have an answer??
Hi Justin, ATO class ruling is released on 13/07/2022. May I ask when will BGL corporate action be updated? Many thanks.
Thank you for your patience.
Our data provider has informed us that they will not be updating the corporate action data that is sent to us even after the ATO class ruling has been released.
Therefore, to assist clients, in our upcoming release (anticipated to be end of next week), we will display a notification for the BHP corporate action within the Corporate Action screen.
There will be a link which will direct users to our help file below:
In light of this, we will be looking at ways to further improve our corporate action screen for such scenarios where the data received differs to the ATO class ruling.
Lastly, apologies for any inconvenience this has caused.
Please do not hesitate to provide us with any feedback you may have.