This article focuses specifically on the CNW → ATA acquisition (75% cash, 25% scrip). For other deals, please refer to the generic mixed cash-and-scrip guide.
When Cirrus Networks (CNW) was acquired by Atturra (ATA) on 11/12/2023, shareholders who accepted the default option received 75% cash and 25% ATT shares. This type of mixed cash and scrip consideration needs to be entered carefully in Navexa so your cost base, capital gain, and new ATT holding are recorded correctly. See ATO CR2024/35.
In this guide, we’ll walk you through how to:
Record the Sell trade for the 75% cash portion,
Use the Merger tool to transfer the remaining 25% into ATA shares,
And check your new ATT holding to understand why the cost base looks different to the market value.
Example Scenario
In this example, you held 100,000 CNW shares purchased at $0.036. Under the default acquisition terms, you received 75% cash and 25% scrip in Atturra (ATA).
Cash Component (Sell Trade):
Quantity: 75,000 CNW shares (75% of 100,000)
Price: $0.0473 per share
Value: $3,547.50 cash proceeds realised
Scrip Component (Merger into ATT):
Quantity: 1,790 ATA shares (100,000 × 0.0179)
Cost Base: $915.90 total ($0.51 per share, carried forward from CNW)
Value: $1,525.00 (market value on 11/12/2023)
After entering these two parts into Navexa:
CNW Holding shows a realised capital gain of $1,442.55 and a closing value of $0.
ATA Holding now appears with 1,790 shares, a cost base of $915.90, and a market value of $1,525.00.
This difference between the ATT cost base ($0.51/share) and its market value (~$0.85/share) is an unrealised gain. Navexa records it this way to ensure your CGT reporting follows ATO rules, carrying across only the relevant portion of your original CNW cost base.
Record the SELL on CNW
Go to the holding CNW
Click the trades tab then Add.
On the trade ticket, choose Sell as the trade type (1)
Enter the trade date as the last market close before the acquisition date.
For this acquisition, which completed on 11/12/2023, the correct sell date is 10/12/2023, (2) since that was the final close before the merger was implemented.
This ensures Navexa processes the sell trade in the right order before applying the merger transaction.
Qty is 75% of your holding of CNW (100,000 shares x 75%) = 75,000 (3)
Share price is $0.0473 x 75000 shares = $3,547.50) (4)
Click 'Add Trade' or Update (5)
From the trades tab click the dropdown and choose 'Add Merger'
Choose Acquisition
The stock became ATA:ASX so enter ATA and select that stock then next
Enter Implementation Date as 11/12/2023 (1)
Choose Scrip for Scrip (2)
How many ATA shares did you receive?: Record the total quantity of ATA shares received due to acquisition (0.0179 Atturra shares for each Cirrus share). In this example we had 100,000 shares of CNW so 1,790 is entered (3). The Scrip per CNW share is automatically filled.
the field "Market Price of old shares" refers to the last traded price of the original (target) stock just before it was suspended—essentially its final market price. It was 0.061 (4)
Click confirm
Check your Holdings
Viewing Closed Holdings
There are two places in Navexa where you can control whether closed (sold) holdings appear:
Top of the Portfolio page:
Use the filter to switch between All Positions (open + closed) and Open Positions Only.Holdings table at the bottom of the page:
Use the dropdown to choose Show Sold Holdings or Hide Sold Holdings.
If you only have Open Positions selected at the top and Hide Sold Holdings selected at the bottom, you won’t see CNW after the acquisition. To view it again, make sure you’ve chosen All Positions at the top and Show Sold Holdings at the bottom.
CNW will now show the value of $0 but will show the capital gain.
The new holding (ATA) will also appear:
Click on the ATA holding to see more details
After entering the acquisition, you will see the new ATT holding created like this:
Cost Base ($0.51 per share) – Navexa apportions part of your original CNW cost base into the ATT shares. This means the ATT holding carries forward $915.90 of cost base in total (1,790 × $0.51).
Quantity (1,790 ATT shares) – this matches the 25% scrip component you received for your 100,000 CNW shares (100,000 × 0.0179 = 1,790).
Value ($1,525.00) – this reflects the market value of the ATT shares on the merger date. The difference between the cost base ($915.90) and the market value ($1,525.00) is your unrealised gain, which will only be taxable if and when you sell these ATT shares.
So, while the ATT shares started trading at around $0.85 on that date, Navexa correctly records their tax cost base at $0.51 per share. This is why the cost base looks lower than the market value – it ensures your CGT reporting follows ATO rules, carrying over the right portion of your original CNW cost base.