The ordinary computational rules of TCGA92/S127TCGA92/S131 apply. If the original shares are cancelled the computation will be the same as TCGA92/S135, see CG52579. If the original shares are retained you will have to split the cost between the original shares and the new shares. The normal rule in TCGA92/S129 is that you make the apportionment by reference to the market value of the different shares at the date of disposal of any of the shares in the new holding, see the Example below. However, if either class of the new shares is quoted TCGA92/S130 will apply. You will make the apportionment by reference to market value on the first day on which the shares are quoted.

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