RE: Nasdaq Single Listing10 Sep 2021 10:09
From the document: Taxation section (It may provide a glimmer of light for CGT if not in an ISA after change to NASDAQ shares).
'For the purposes of UK capital gains tax and corporation tax on chargeable gains, or CGT, the
cancellation of the Old Tiziana Shares and the issue of New Tiziana Shares should be treated
as a scheme of reconstruction. UK resident Shareholders who do not hold (either alone or
together with connected persons) more than 5 per cent of, or of any class of, shares in or
90
debentures of Old Tiziana should obtain rollover relief in respect of the cancellation of Old
Tiziana Shares and the issue to them of the New Tiziana Shares. This means that the New
Tiziana Shares issued to a Shareholder should be treated as the same asset, and as having
been acquired at the same time and for the same consideration, as their Old Tiziana Shares
from which they are derived'.
BB