You will make a capital loss if the capital proceeds are less than the total reduced cost base of the Centuria Stapled Security.1.33 As each individual security comprising a Centuria Stapled Security is a separate CGT asset, the disposal of a Centuria Stapled Security will constitute a disposal, for CGT purposes, of each individual security (i.e. In the event that the non-assessable distribution exceeds a NZ Augusta Shareholder’s cost base in their CNI Units, a capital gain should arise and the cost base (and reduced cost base) of the CNI Units are reduced to nil.Disposal of Centuria Stapled Securities 1.32 On disposal of a Centuria Stapled Security, you will make a capital gain if the capital proceeds on disposal exceed the total cost base of the Centuria Stapled Security. Schedule Four Description and comparison of the rights, protections and obligations of Augusta Shares and Centuria Stapled SecuritiesA Centuria Stapled Security consists of a CCL Share stapled to a CNI Unit. Post transaction market capitalisation is the Centuria Stapled Security price multiplied by the number of the currently outstanding Centuria Stapled Securities on issue (483.0 million securities) plus the new Centuria Stapled Securities issued to acquire full ownership of Augusta (51.0 million securities). Such adjustment will occur first in reduction of the cash component of the consideration specified at paragraph 2.1 and then, if the cash component has been reduced to NZ$nil, by reduction in the number of Centuria Stapled Securities offered as consideration (and, for this purpose, 0.392 of a Centuria Stapled Security will have a nominal value of NZ$0.80) (with any fraction of a Centuria Stapled Security rounded down). Examples of Centuria Stapled Security in a sentence
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