Standard Life - 73p Cash Payment But .......

molerat

The 9 from 11 did not work out exactly (1450/11 x 9 = 1186.36363636) so there was 0.3636 of a new share left over. Each whole new share value is 465.37 and they have paid you that part share as cash.

vectistim

pinklady21 wrote: »

Apologies in advance if this is a really stupid question!

Pre-Consolidation I had 1450 shares.
Post Consolidation 1186.
So far so good, this makes sense.

The bit I don't quite get is the next line which is
1/4/15 shareholding .3636 rate 4.6537 Amount 1.69.

I know it is only 1.69, but would be interested to know what it is and why it is shown separately.
Thanks!

Without getting my calculator out 9/11 of 1450 shares is presumably 1186.3636
They can't give you .3636 of a share so they've rounded down your share allocation, and given you cash for the .3636 of a share that was left over.

chels

pinklady21 wrote: »

Apologies in advance if this is a really stupid question!

I have been looking at the share portal for my S/L holding today, and I am not sure I am understanding fully what it is telling me.
Can anyone more adept at this than me, help clarify?

Pre-Consolidation I had 1450 shares.
Post Consolidation 1186.
So far so good, this makes sense.

What isn't making sense is the dividend.
1/4/15 shareholding 1450 rate 0.73p Amount £1058.50
This I understand - it is the return of value payment, which I thought was 73p per share.

The bit I don't quite get is the next line which is
1/4/15 shareholding .3636 rate 4.6537 Amount 1.69.

The total paid into the bank today is both amounts ie £1060.19
Which I assume is the full amount due without any tax deducted, as I requested B shares to be more tax efficient.
I know it is only 1.69, but would be interested to know what it is and why it is shown separately.
Thanks!

The new share allocation was calculated at 9 new shares for every 11 shares you previously held, this calculation produced a 'part' share, i.e. the .3636 so they have calculated it's value and added that to the amount they've paid you. Hope that makes sense.

pinklady21

So it is really done to a bit of rounding - makes perfect sense. Thank you for your prompt response.
Thanks all!

Spidernick

I think I am jinxed!

No payment into my account today (which is what I thought would happen) and nothing in the post. I've tried getting into the share portal at various times throughout the day (both at work and at home), but it times out each time saying currently unavailable (it's just done so now).

I have opted for the cash as a capital gain. does that make any difference, does anyone know? Has anyone else had a problem?

HarryD

As I understand it, to work out the acquisition cost of B shares, you have to apportion the acquisition cost of your total shareholding between B shares and New Shares.

The value of the B shares is easy enough - it's the cheque they sent me. The value of the New Shares is the number of New Shares x the price if the New Shares.

My question is: what was the relevant price of the New Shares?
.

bowlhead99

HarryD wrote: »

As I understand it, to work out the acquisition cost of B shares, you have to apportion the acquisition cost of your total shareholding between B shares and New Shares.

The value of the B shares is easy enough - it's the cheque they sent me. The value of the New Shares is the number of New Shares x the price if the New Shares.

My question is: what was the relevant price of the New Shares?
.

465.1p each.

From standard life website, investors tab, general meeting page, key information section, "return of value: cgt base cost......pdf"

HarryD

bowlhead99 wrote: »

465.1p each.

From standard life website, investors tab, general meeting page, key information section, "return of value: cgt base cost......pdf"

Excellent, thank you.

http://www.standardlife.com/static/docs/2015/BaseCostApportionment.pdf

AMG_Merc

Spidernick wrote: »

I think I am jinxed!

No payment into my account today (which is what I thought would happen) and nothing in the post. I've tried getting into the share portal at various times throughout the day (both at work and at home), but it times out each time saying currently unavailable (it's just done so now).

I have opted for the cash as a capital gain. does that make any difference, does anyone know? Has anyone else had a problem?

Spidernick, where do you get the chance to opt for the cash as a capital gain? I seem to have missed this.

gt94sss2

Spidernick wrote: »

I have opted for the cash as a capital gain. does that make any difference, does anyone know?

Would not have made a difference.

I've received the 73p/share from the broker who holds my shares but haven't yet received the fractional entitlement (the fraction of the share left over when they divided a shareholding by 9/11) that I was expecting..

Regards
Sunil