Thoughts on St Barbara (SBM) & Genesis (GMD) please
What is the base cost for Genesis shares on the demerger and what is the base cost adjustment for St Barbara. Please provide a detailed calculation on a sample original St Barbara holding.
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Answer
Hi Graeme,
Unfortunately, there is no simple answer to the above question.
St Barbara shareholders received ~0.25 GMD shares for every 1 SBM share held at the record date. The company has applied for a class ruling from the ATO regarding this distribution and this is where the cost base will come from. It is best to consult with a tax professional regarding the impact on shareholders. We provide General Advice only, we cannot provide personal advice or comment on your individual circumstances.
