Corporate Action: How to handle the Macquarie Group / Sydney Airport reconstruction

now that they seem to have changed their name and split or something. What do I do with my MQG holding in my ShareSight portfolio???
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  • Found the answer - all returns to normal about 2nd Jan

    ------------------------------------------------------------
    Important Information for Macquarie Group Limited (ASX:MQG) Shareholders

    13 December 2013

    On Thursday, 12 December 2013, Macquarie Group Limited (MQG) announced that it has received shareholder approval to undertake a consolidation of its shares and distribution of Sydney Airport stapled securities (SYD).

    The consolidation will involve the conversion of every one share into 0.9438 ordinary shares in the company (shares will be rounded up to the next whole number).
    The distribution of shares will involve a distribution of 1 Sydney Airport stapled security (SYD) for every MQG share held on the record date as at 7pm (AEDT) Monday, 20 December 2013. Eligible shareholders will be allocated SYD securities on Monday, 13 January 2014.
    From Monday, 16 December 2013, MQG shares commence trading on a deferred settlement basis (ASX code: MQGDA).
    On Thursday, 2 January 2014 normal T+3 trading (Three ASX settlement days after the trade) will resume (ASX Code: MQG).
    For further details, please refer to the Company's announcement lodged with ASX.

    During the deferred trading period:

    MQG will reflect as zero value balance on your CommSec portfolio; holdings and watchlist.
    From Monday, 23 December 2013, existing CommSec MQG shareholders will see available units as MQGDA (MQG holdings multiplied by 0.9438) until the code changes back to MQG on Thursday, 2 January 2014.
    All trades conducted on a deferred settlement basis, and first settlement of trades conducted on normal T+3 trading will be settled on Tuesday, 7 January 2014
    Clients holding MQG:
    If you are unable to sell your holdings in MQG online during the deferred settlement trading period, please contact us on 13 15 19 (Monday to Friday, 8am to 8pm Sydney time).
    Clients holding MQGDA:
    If you have bought MQGDA during the deferred settlement trading period, or currently hold MQGDA you may place sell orders online as per usual.
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  • So I already had SYD shares after they were transformed from MAP shares a few years back. I also had Macquarie shares and received another parcel of SYD shares in early January 2014.

    In terms of Sharesight, how should my the transactions on my portfolio be entered? Do the new SYD shares get entered as BONUS, BUY or something else and what is the costbase?

    Also what do you do to the Macquarie shares to reflect the divestment?
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  • I'm brand new to share sight, trying to do my tax returns and would love some help getting this right - my broker totally messed it up and incorrectly allocated my SYD shares so I am confused how to adjust the cost base of both MQG and the new SYD shares...
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  • Angela Thompson (Digital Marketing Manager) January 04, 2017 02:33
    Just an update for anyone who comes across this thread and is looking for help:

    We've written a blog post with step-by-step instructions on how to handle the Macquarie Group / Sydney Airport reconstruction in Sharesight. Please follow the link to blog post and leave any questions below that you have concerning the corporate action.

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  • This reply was created from a merged topic originally titled In-Specie distribution for MQG resulting in SYD security allocation.

    In 2013 MQG shareholders received an in-specie distribution of stapled securities in SYD. http://www.macquarie.com.au/mgl/au/ad...

    I'm somewhat confused as to how I should account for this in my MQG and SYD holdings.

    The only other In-Specie transaction I found was:

    https://getsatisfaction.com/sharesigh...
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