EX­AM­PLES OF THE CGT IM­PLI­CA­TIONS

Weekend Argus (Saturday Edition) - - FRONT PAGE -

As­sump­tions: Num­ber of shares: 1 000 Cost price: R200 Rand base cost: R200 000 Rand-pound ex­change rate: 18.89 Sce­nario 1: Share­holder takes the cash of­fer Sale price of shares: 45 Bri­tish pounds Rand sale price: R850 Im­plied value on sale: R850 000 Gain: R650 000 Sce­nario 2: Share­holder swops 41.6 per­cent of the shares Sale price of shares not swopped: 45 Bri­tish pounds Rand sale price: R850 Cash from sale: R496 400 Num­ber of AB InBev shares: 200 Sale price of shares swopped: 90 Bri­tish pounds Cash from shares swopped: R35 360 Value of the shares swopped: R339 456 Im­plied value: R871 216 Gain: R671 216 Sce­nario 3: Share­holder swops all the shares Num­ber of AB InBev shares: 480 Sale price of shares swopped: 90 Bri­tish pounds Cash from shares swopped: R85 000 Value of the shares swopped: R816 000 Im­plied value: R901 000 Gain: R701 00

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