directors accept, page-9

G'day all,

it's been a fair while since I posted here.
Sad to see the demise of Adelaide Energy, for what may have been a very good company in years to come. But, alas, it wasn't to be.

ADE management certainly had an uncanny sense for bad timing, releasing great announcements on days when world markets were being annihilated. Who knows, the share price may have otherwise shot up to a more acceptable level?

Anyway... for me it's not all bad news. What I am left holding is a parcel of shares that I had subscribed to under last November's share purchase plan, for which I paid 6cents per share. Not too bad, I guess.

Which leads me into a question regarding the 12month holding rule for capital gains tax (CGT) purposes.
Is it one year from 22 November 2010, the date that these shares were allocated to the plan participants? Or, is it 29 November 2010, the day the share were quoted on the ASX?
Or, is it the day the cheque was drawn upon? ie. the date that the contract was entered into?

No-one here, as yet, has mentioned anything about this, but, I suspect a great number of shares will be traded on this day. I, for one, do not want to be handing over 50% of my profit to an incompetent federal government.

All the best to past and present ADE holders.
I enjoyed the ride while it lasted.

Cheers
--Dan