Charter Hall Group (ASX:CHC) will implement a capital reallocation of AU$0.85 per security upon obtaining a draft class ruling from the Australian Taxation Office (ATO) confirming its taxation implications for security holders, according to a Monday filing with the Australian bourse.
The company's stapled securities, consisting of Charter Hall shares and Charter Hall Property Trust units, and the reallocation will move capital from Charter Hall to Charter Hall Property Trust, the filing said.
The formal class ruling from ATO is expected to be released five to six weeks after the implementation date, per the filing.
Charter Hall Group shares fell almost 6% in midday trade Monday.
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