How most people received their MYS shareholding
In 2009, proposals for the merger between MyState Financial (MFS) and Tasmanian Perpetual Trustees (TPX or TPT) were presented to the membership-owned credit union. In order for the merger to occur members of MFS were required to vote for the demutualisation of the company. Demutualisation is the process a membership-owned organisation goes through to become a shareholder-owned company. MFS members voted in favour of demutualisation with support coming from 84% of the members.
As a result MFS and TPT became MyState Limited (MYS). Members of MFS received parcels of 380 MYS shares and shareholders of TPX received a 1 for 1 exchange for MYS shares.
Are you wondering what you paid for your MYS shares?
If you were allocated MYS shares in 2009 due to being a member of MFS or your holdings in TPX there would have been no charge for your MYS acquisition.
If you purchased your MYS shares through a broker, inherited your MYS shares, or have participated in a corporate action since the demutualisation (for instance an entitlement offer), the details of your purchase price can be found on your Share Certificate or olding Statement.
Please call us if you have any questions on how to acquire this information or how to sell MYS shares.
How do I sell MYS shares?
Call Us! We can sell MYS shares faster than anyone in Australia. All you need to do is complete our quick and easy online form, and we can process your sale without opening a share trading account.
It is handy if you have your SRN handy. This can be found on your Share Certificate, Holding Statement, or Dividend Statement – it starts with an ‘I’. If you cannot find the details, give us a call and we can point you in the right direction.
What Happens after the Sale?
Once you sell your MYS shares into the market (at the prevailing price), we will send you a contract note, which will detail:
- How many MYS shares you sold;
- The price the shares were sold at;
- Brokerage fee;
- The net $ proceeds payable to you.
This money will be deposited into your nominated bank account, or we can cut a cheque if it suits (fee applies). It is as simple as that!
How long does it take?
Using our Express Share Sale Service, your sale can often be processed the same day (if you get your submission in by mid-morning). You will receive the money in your bank account on the 3rd business day following the day your shares are sold.