ST GEORGE BANK LIMITED (ASX.SGB)

we may be able to assist in finding unclaimed funds if you previously had dealings with this company - deListed provides a tracing service for a small administration fee that identifies where people can find unclaimed monies arising from compulsory acquisitions and also from dividend distributions, super contributions, inoperative bank, building society or credit union accounts, bequests and other sources - please click here for access to our Lost shares, Lost money?? service

delisted following the completion of the schemes of arrangement whereby Westpac Banking Corporation acquired all of the Shares and SAINTS (the non-cumulative, redeemable and convertible preference shares) - the Step-up Preference Shares (SPS), Converting Preference Shares (CPS) and Converting Preference Shares II (CPS II) of the Company (the "St.George Hybrids") will also be removed from official quotation at the close of business on Thursday, 2 April 2009, in accordance with listing rule 17.10, following their redemption on 31 March 2009

we understand Westpac was successful with an offer of 1.31 of its own shares for each St George share - SGB shareholders were also to receive on 18 December 2008 an additional dividend of up to 31 cents a share fully franked

Consolidated Interim Financial Report for the half year ended 31 March 2009 is released

the ATO accepts the market value of the Westpac shares received by St George shareholders, for tax purposes, as the volume weighted average price (VWAP) at which the Westpac shares traded on the ASX on the Implementation Date, 1 December 2008 - the VWAP for Westpac shares on 1 December 2008 was $17.1882

we understand that on or about this date the company undertook, proposed to undertake or was the subject of the following corporate action: - merger with Westpac - this corporate event may appear elsewhere in this company record

securities suspended from quotation re acquisition by Westpac

in January/February 2006, the company undertook an off-market share buy-back - the buy-back price was $25.69 per share consisting of a fully franked dividend of $19.15 per share, and a capital component of $6.54 per share (for capital gains tax purposes, participants in the buy-back are deemed to have received $10.59 as the capital component of the buy-back price)

the Federal Court hands down its finding in the test case McNeil v. FC of T. The case concerned the St George Bank Limited share buy-back program and dealt with the tax consequence of the issue of share sell-back rights to St George Bank Limited shareholders. The Court found that the grant of those rights was not income according to ordinary concepts, nor was there a capital gains tax liability - the ATO is to appeal the decision - until resolved the ATO will continue to apply Class Ruling CR2001/75 - where a shareholder has lodged an objection against the inclusion of an amount in their assessable income as a result of receiving share sell back rights, the resolution of that objection will be held over pending the outcome of the appeal

on 19 February 2001 St George Bank Limited (SGL) granted to a trustee one right for every 20 shares held by shareholders at 23 January 2001 - the rights were issued at no cost to shareholders - each right conferred on the holder a put option to require SGL to purchase from the holder of the right one SGL share at $16.50 - the market value on 19 February 2001 of each right ($ 1.89) formed part of the ordinary income of the shareholders - the income was derived on 19 February 2001. Shareholders who did not apply to take up the right received an amount of $2.12 for each right granted - in addition to the ordinary income, they also made a capital gain of 23 cents per right ($ 2.12 -$1.89) - shareholders who had rights transferred to them but failed to exercise them received an amount of $3.12 for each right - in addition to the ordinary income, they made a capital gain of $1.23 per right ($ 3.12 -$1.89) shareholders who sold the rights on ASX made a capital gain = proceeds -($ 1.89 + incidental disposal costs) on the disposal of the rights, in addition to the ordinary income (of $1.89) - shareholders who exercised the right to sell the shares back to SGL can include the $1.89 in the cost base of their shares. The capital proceeds for each share was $16.50. See Class Ruling CR 2001/ 75—Income tax: capital gains: St George Bank Limited share buy-back and issue of sell-back rights for more information