Assuming a future delisting of the CDI’s, do my shares automatically convert to Nasdaq listed shares or must I sell out (and pay high capital gains tax)? And 2) Should I only accept Nasdaq listed Square shares?

I aim to accept Square asx listed cdi shares for my Afterpay shares. However, Adam Dawes (Switzer interview) suggested Square might withdraw the cdi’s after a couple of years as Square is largley a USA company. So 1) Assuming a future delisting of the CDI’s, do my shares automatically convert to Nasdaq listed shares or must I sell out (and pay high capital gains tax)? And 2) Should I only accept Nasdaq listed Square shares?

A: Your first question is a hypothetical. Lets see what the scheme information booklet has to say.

Secondly, it you intend to be a long term holder and have other US shares, then I would accept the NASDAQ listed shares. If you don’t own any other US shares, I would probably go for the CDIs because there are costs in holding US shares.

 


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