I agree. But I repeat. As yet no official communications that T212 can base their response on.
Butā¦ Based on my years of corporate action processing for many brokers I propose this will happenā¦ BTW this is absolutely standard demerger process and really shouldnāt require much thoughtā¦
You hold X TILS today
Stemprinter spins out on X:Y basis
Value of TILS fall to reflect value of Stem extracted from overall company
TILS reduced by X:Y ratioā¦ you had X now you have X/(xx)
You are credited with Y Stemprinter (assuming Stem is listed on an exchange T212 can accessā¦which they should be able to)
Y value is assigned to Stem
X+Y share prices = value of TILS as of day previousā¦ a simple split of value
If T212 have a good back office system they will reassign your entry price into Stem and TILS accordingly now your shares have demergerā¦but for tax reasons you need a new calculated entry price.
So unless Stem kicks out onto an OTC market or something unforseen this is 99% what will happen.
You had X worth Ā£100ā¦ now you have X + Y worth Ā£100 (minus a little market fluctuation)
Iām at risk of patronisingā¦but this is pretty much the maths you learnt when you were very youngā¦ think of it like a cakeā¦ that you cutā¦ you still have the same cakeā¦ itās just in piecesā¦ you lose nothing, you gain nothingā¦ except the perceived market value of the seperated entitiesā¦ and thats the usual game with demergersā¦ you are essentially showcasing your prime assets and hoping the market values them higher now they are more visibleā¦ itās a kinda āsum of the partsā gameā¦
any way. hope that helps in some weird way