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Action the Tatts Group or Tabcorp share transfer

Tatts Group Limited entered into a scheme of arrangement in December 2017 resulting in the transfer of shares in Tatts Group (Tatts Shares) for shares in Tabcorp Holdings Limited (Tabcorp). This scheme was approved by the Supreme Court of Victoria on 13 December 2017.

On 22 December, holders of Tatts Shares received 0.8 fully paid ordinary shares in Tabcorp for each Tatt Share. In accordance with the Scheme, fractional entitlements to Tabcorp Shares were rounded to the nearest whole number, with fractions of 0.5 or more being rounded up. Shareholders should have received a notice listing the number of Tatts Shares held on the record date and the number of new Tabcorp Shares Issued.

To enter this transaction in your Mclowd records:

Choose the CORPORATE ACTIONS button to enter a RETURN OF CAPITAL for your Tatts Group shares.

Via the Corporate Actions screen, record a DISPOSAL of your Tatts Group shares, entering the number of shares surrendered and their value as at 22 December 2017.

Choose SAVE.

Record an Acquisition of TABCORP shares in the quantity issued (or calculated at the rate of 0.8 fully paid TABCORP shares for each Tatt share, adjusted for fractional entitlements as per the notation above).

Select ADD NEW ASSET from the ASSETS tab.

SAVE the acquisition.

If you are concerned about transactions like this recording deposits and payments that do not actually go through the bank and will not show on your bank statements, you may wish to create a DUMMY BANK account for use when recording transactions of this type.

Entries like this do not obstruct bank reconciliation because the deposit and payment should be equal, but they do cause entries to show in your bank records that didn’t actually occur.