Corporate actions
A corporate action represents an action taken by an entity which may affect the capital structure of the entity. Actions can be mandatory, such as share reconstructions, or voluntary, such as entitlement offers and share purchase plans. You will be required to make a decision regarding your preferred course of action for a corporate action.
We provide relevant information to your adviser about corporate actions impacting your portfolio through the corporate actions calendar, viewable by your adviser on our website. Your adviser will rely on the corporate actions calendar to check for any corporate action information that may be relevant to your portfolio or require your action.
Following our receipt of documentation related to a corporate action from the issuer, company or registry, we will make the details available to your adviser online through the corporate actions calendar. We may, at our discretion, also actively forward this documentation to your adviser or tell your adviser, either verbally or in writing, where information may be obtained in relation to the corporate action.
When a corporate action occurs, we will ask you, through your adviser, what action you wish to take and will respond in accordance with your wishes. These instructions must be provided to us at least three Business Days prior to the published closed date of the action, unless otherwise communicated.
If you are required to make an additional payment as a result of a corporate action, you must ensure that you have sufficient available cash in your CMA as at 9:00am Sydney time on the nominated cut-off date for your instruction to be accepted as authorised. If notification is received after the nominated cut-off date and time and/or insufficient available cash or security holdings results in our inability to act, we will not accept any liability.
You cannot vote at shareholder meetings or participate in bonus share plans (offered on some securities, enabling security holders to elect to receive fully paid bonus shares instead of cash dividends) on investments held in your portfolio.
