A corporate action is a company-initiated event that falls outside the category of a buy or sell. Some examples of a corporate action are capital raising, share purchase plans, mergers and takeovers, general meeting where board vote on a decision, initial public offerings (IPOs) or reconstructions (splitting of shares). This guide covers where to find, view and complete corporate actions.
This guide covers:
- Where can I find corporate actions?
- How do I complete corporate actions on the Netwealth platform?
- Tracking offers that require action
- Actioning offers for individual accounts
- Actioning offers for bulk accounts
Where can I find corporate actions?
Netwealth has a corporate action diary which is updated daily, where you can find all current corporate actions and instructions. You can find the corporate action diary by navigating on the web to Support > Netwealth approved assets > Corporate action diary.
How do I complete corporate actions on the Netwealth platform?
Overview
To access the corporate actions page, please navigate to Activities & Tasks > Corporate Actions. In this view you can view the open and closed offers, meetings and class actions applicable for your/your clients account(s).
Tracking offers that require action
When you have the status set to 'Open Offers', you will see all offers that are currently open.
The table will display:
- Closing: This is the closing date of the offer, this is the final date you can action an offer.
- Asset: This is the asset the offer applies to.
- Description: This describes what type of offer the corporate action is. Click on the description to open the offer, view the details and action.
- Accounts: This is how many Netwealth accounts that you have access to that the offer applies to.
- Outstanding: This is how many Netwealth accounts that the offer has not been actioned on yet.
- Document: This has a link for each corporate action leading you to the external announcement and full offer details.
Beneath the table there is a link to the Corporate Actions Diary, this diary contains all corporate actions across Netwealth, not just the corporate actions that apply to your account(s).
Actioning offers for individual accounts
- Click on the hyperlink for the offer you want to action under 'Description'. This will open the offer details.
- In the 'Client Details' table, locate the account you want to action and open the drop-down under 'Election'.
- Select the relevant election and click 'Submit'.
- Review the details in the summary page and then click 'Complete'. You will receive a transaction ID.
Once submitted, the corporate action will change to a 'Received Response' status. It will then move to 'Processed' and then 'Complete'. You can return back to this page to see how the action is progressing.
Actioning offers for bulk accounts
- Click on the hyperlink for the offer you want to action under 'Description'. This will open the offer details.
- Select the adviser(s) from the drop-down whose clients you want to action for.
- Select the status from the drop-down that you want to action for.
- Select the election from the drop-down that you want to apply and click 'Apply Bulk Election'.
- Review the details in the summary page and then click 'Complete'. You will receive a transaction ID.
Once submitted, the corporate action will change to a 'Received Response' status. It will then move to 'Processed' and then 'Complete'. You can return back to this page to see how the action is progressing.