|NSW/ACT||CHURCH WELCOMES SUGGESTION TO SHARE NRMA SHARES WINDFALL|
A suggestion that NRMA members could use their shares windfall to benefit the Church has been welcomed by Canberra-Goulburn Archdiocesan business manager Mr Bob Smeaton. |
NRMA Insurance lists on the Stock Exchange today. Chairman Nicholas Whitlam described the $2.75 price as an excellent outcome for members. The company's $4.1 billion market capitalisation has provided a windfall of almost $2,000 to the average shareholder.
Mr Smeaton said the Archdiocese would welcome such expressions of generosity. He said anyone who wanted to follow up the idea of signing their shares over to the Church should contact him.
The Archdiocese had contacted the Australian Taxation Office to ensure that anybody making a gift of shares could do so without tax penalty. Further information on tax implications was expected soon, he said.
In the June issue of Catholic Voice, readers Bren Milsom and Paul Bryden suggested that NRMA members, instead of keeping or selling their shares, could instead assign them to the Church.