Distributions and info
On 6 April, amaysim delisted from the Australian Securities Exchange following the sale of its Mobile business to Optus that completed on 1 February and the close of the takeover offer from WAM Capital Limited.
The WAM takeover offer closed on 30 March 2021 and for those shareholders that did not accept the offer, or were ineligible to accept it at the close date, the Company (amaysim Australia Limited) will be making a series of Distributions to shareholders as outlined below.
- The Major Distribution of approximately $0.50 per amaysim share, comprising a fully franked dividend of $0.26 (with franking value of up to $0.11 per amaysim share attaching to the distribution) and a return of capital of $0.24 per amaysim share to be paid on or around 27 April 2021;
- the Minor Distribution of approximately $0.10 per amaysim share comprising a return of capital to be paid in or around May 2021; and
- the Final Distribution (which may be completed via two distributions) of approximately $0.07 to $0.13 per amaysim share comprising of a return of capital to be paid in or around October 2021.
Please refer to this announcement (link below) for further details about the payments, timings and important dates to determine entitlements to the payments.
WAM takeover offer, distributions to shareholders and important dates
Important dates for distributions:
- Last day of trading with entitlement to Major Distribution 29 March 2021 - if you purchased your shares after the 29 March you will not be entitled to the Major Distribution
- Ex-date for Major Distribution 30 March 2021
- Record Date for the Major Distribution 31 March 2021
- Major Distribution Payment Date 27 April 2021
- Minor Distribution Payment Date (estimated) May 2021
- Final Distribution Payment Date (estimated) October 2021
ATO Class Ruling
The capital return components of the Distribution are all expected to be treated as capital returns by the Australian Taxation Office (ATO).
The Company applied to the ATO for a Class Ruling in December 2020 seeking confirmation of the tax treatment of the equal capital reduction for Australian resident shareholders who hold their shares on capital account.
Only once the ATO has issued its Class Ruling, can the final nature (dividend or capital return) of the Distributions be known for tax purposes. The Company will advise shareholders once it has received the ruling and it will be made available on the website.