Lars (@MasterLars) on getquin

Lars Hoffmann

@MasterLars

3Mon·

$NEL (-7.15%)

Hello has anyone received notification of this from NEL???

NEL distributes Cavendish Hydrogen shares to investors as a dividend in kind

- Investors will receive one Cavendish share for every 50 NEL shares with a calculated value of NOK 31.60

13 Comments

Kay@kaysers-invest

3Mon

Directly from nel not yet

•

Show answer

EssZed@EssZed

3Mon

yes received today under the title: corporate action "unbundling" 50:1

•

View all 2 further answers

René@Booz

3Mon

@MasterLars
Yes, from ING yesterday, here is the text:

You hold the above-mentioned shares of Nel ASA in your securities account. Perhaps you have already noticed: Nel ASA has decided to spin off its refueling division. This is to be floated on the stock exchange under the name Cavendish Hydrogen.

What does this mean for you now? If you have shares in Nel ASA in your securities account at the end of June 7, 2024, you will also receive shares in Cavendish Hydrogen (ISIN NO0013219535). The new shares are expected to be booked in at a ratio of 50:1.

The new shares will be credited on 12.06.2024 at the earliest and we will do this automatically for you - so you don't need to worry about anything. However, we cannot say exactly when the shares will be credited to you. That depends on when we receive them from our depositary.

Due to the booking-in ratio of 50:1, you may receive fractions of Cavendish Hydrogen. We will sell these for you automatically and free of charge following the credit - you don't need to worry about this.
What are the tax implications for you? The spin-off is taxable under German tax law. This means that the additional shares credited are deemed to be newly acquired. The acquisition costs are generally set at EUR 0.00. This means that you do not have to pay capital gains tax when the shares are booked in. Only when the additional shares are sold at a later date are the sales proceeds fully taxable.

•