What is the apportionment for UK capital gains tax purposes between ordinary shares and B Shares as a result of the return of capital in December 2007/January 2008?
The market value of a New Share for UK tax purposes on the first day on which its price was quoted (17 December 2007) was 302.125 pence. The market value on the same date of a B Share for UK tax purposes is considered to be 22.3 pence. As the B Shares will not be traded on any Stock Exchange, its value was calculated by reference to its redemption value of 22.4 pence on the first redemption date of 14 January 2008, with a discount applied to take account of the minimum period prior to redemption.
