Tax information

 

Entitlement Offer splits

The $2.02 Offer Price for the accelerated non-renounceble entitlement offer of New Stapled Securities announced on 20 July 2015 resulted in the following value allocation between each entity of the four-stapled security:

Offer Price used to determine value allocation of $2.020

Entity Value $ % allocation
DFT 1.066 52.79%
DIHL 0.293 14.50%
DUECo 0.656 32.48%
DFL 0.005 0.23%
Total 2.020 100.00%

Entitlement Offer splits

The $2.39 Offer Price for the accelerated non-renounceble entitlement offer of New Stapled Securities announced on 19 November 2014 resulted in the following value allocation between each entity of the four-stapled security:

Offer Price used to determine value allocation of $2.390

Entity Value $ % allocation
DFT 1.242 51.96%
DIHL 0.353 14.79%
DUECo 0.789 33.03%
DFL 0.006 0.22%
Total 2.390 100.00%
 

DUECo elections

As announced on 8 August 2013, the Australian Taxation Office (ATO) has issued Class Rulings in relation to the DUET Group simplification (Class Rulings). The rulings confirm that Australian resident investors holding their DUET investment on capital account should be eligible for capital gains tax rollover relief with respect to the disposal of their Diversified Utility and Energy Trust No.3 units (DUET3 units), Diversified Utility and Energy Trust No.1 units (DUET1 units) and DUET Management Company 1 Limited shares (DMC1 shares) in exchange for scrip consideration.
 
One of the requirements that must be satisfied before Australian resident investors can claim capital gains tax rollover relief with respect to the sale of their DUET1 units and DMC1 shares to DUET Company Limited (DUECo) is that DUECo makes certain choices pursuant to the Income Tax Assessment Act 1997 ("the Act"). In this respect, these choices have been made by DUECo.
 
Specifically, DUECo has chosen for section 124-470 of the Act to apply in respect of the acquisition by DUECo of all of the DUET1 units, and has chosen for section 124-385 of the Act to apply in respect of the acquisition by DUECo of all of the DMC1 shares. It is noted no similar choices are required to be made with respect to the acquisition of the DUET3 units.

Simplification scrip consideration splits

The security price used to determine the scrip consideration was the closing price of DUET stapled securities on 24 July 2013 (the date prior to the new stapled securities begining to trade on the ASX on a deferred settlement basis). It resulted in the following value allocation between each entity of the previous six-stapled security:

Security price used to determine scrip consideration as at 24 July 2013 of $2.260

Entity Value $ % allocation
DUET1 0.668 29.56%
DFT 0.976 43.19%
DUET3 0.234 10.37%
DIHL 0.372 16.46%
DMC1 0.005 0.21%
DFL 0.005 0.21%
Total 2.260 100.00%