How do I convert some or all of my shares into Chess Depositary Interests (“CDIs”) traded on the Australian Securities Exchange (“ASX”)?

The process of converting, on a 1:1 basis, Capstone Copper Corp. shares of common stock (“Shares”) into CHESS Depositary Interests (CDIs”) (and vice versa) can be completed, when a valid instruction is provided, within 24 hours (timezones permitting). The cross-border conversion process is detailed below. No CDI issuance or cancellation fee will be charged to a holder, although a fee will be payable by market participants.

If a shareholder wishes to convert their Shares into CDIs, they can do so by:

  1. For Shares held in the Canadian Depositary for Securities (“CDS”), the CDS Participants will need to initiate a CDS Stock Withdrawal for the number of Shares to be converted into CDIs. At the same time, the CDS Participant completes and submits a CA/AU xSettle instruction (or paper CDI issuance request form) to Computershare’s Global Transaction Team in Canada (GT Canada), with this matched to the withdrawal of the Shares.


  2. If the Shares are held by the holder directly on the Canadian share register in a) book entry form in the Direct Registration System (DRS) or b) in certificated form, then the shareholder will need to submit a completed CDI issuance request form to GT Canada accompanied by their share certificate(s) where applicable, at the following address:

    Computershare Investor Services Inc
    Attn Global Transaction Team
    100 University Ave, 8th Floor
    Toronto Ontario, M5J 2Y1 Canada

In both cases once the instruction is validated by GT Canada, and matched to the Shares, then GT Canada will work with their Australian counterparts to issue the CDIs in Australia in accordance with the request submitted. For additional information, shareholders can contact GT Canada:
Phone: +1 866 277 2086
Email:   [email protected]

How do I convert some or all of my CDIs into shares of common stock on the Toronto Stock Exchange (“TSX”)?

If a CDI holder wishes to convert their CDIs into Shares they can do so by:

  1. Directly in the case of a CDI holder on the issuer sponsored sub-register by completing a CDI cancellation request form, and returning it together with copies of the holder’s certified identification documentation, to Computershare’s Global Transaction team in Australia (GT Australia). Note, Issuer sponsored holder numbers are prefixed with an ‘I’, and are referred to as Securityholder Reference Numbers (SRN).

    It is important that the CDI holder completes the form in full, and in accordance with the instructions on the form, if the Shares are to be deposited into holder’s account held with a Participant in CDS (the Canadian Central Securities Depository, equivalent to CHESS in Australia) the holder’s Australian or Canadian broker can assist them with providing this information including the CDS Deposit Reference number.

    The completed and signed CDI cancellation request form, and CDI holder’s certified identification documentation are to be sent to Computershare’s Global Transaction team in Australia by post or email:

    Computershare Limited – Global Transactions Team
    PO Box 103 Abbotsford
    Victoria 3067 Australia
    Email:   [email protected]


  2. By contacting their sponsoring Australian CHESS Participant to request the conversion of their CDIs into Shares issued in Canada. This is relevant to holders that hold their CDIs on the CHESS sub-register. CHESS holder numbers are prefixed with an ‘X’, and are referred to as Holder Identification Numbers (HIN). The CHESS Participant will need to convert the CDIs onto the issuer sponsored sub-register before the cancellation can be processed.

    Market participants will submit their AU/US instruction via Computershare’s secure online cross-border instruction portal, xSettle.

In both cases once the request is validated by GT Australia, and matched to the CDIs, then GT Australia will cancel the CDIs and arrange with their Canadian counterparts to issue the Shares on the Canadian share register in accordance with the request submitted.

If CDI holders have any questions about the CDI cancellation process, which would move their securities from Australia to Canada, they can contact Computershare on 1300 850 505 (Australia toll free) or +61 3 9415 4000 (outside Australia).

What were the tax implications for US investors following the merger in 2022?

In March 2022, Capstone Copper Corp. (“Capstone Copper”) acquired all of the issued and outstanding shares of Capstone Mining Corp. (“Capstone Mining), issuing one Capstone Corp. common share for each Capstone Mining share held. For former U.S. shareholders of Capstone Mining, we have completed IRS Form 8937 to provide general U.S. tax information on the disposition of Capstone Mining common shares upon closing of the transaction.

The information contained herein and in the IRS Form 8937 attachments does not constitute tax, accounting or legal advice and does not purport to be complete or to describe the consequences that may apply to particular categories of shareholders. Capstone Copper does not provide tax, accounting or legal advice. Any tax statements contained herein and in the attachment were not intended or written to be used, and cannot be used, for the purpose of avoiding penalties imposed under the Internal Revenue Code. You are urged to consult your own tax advisor regarding the particular consequences of the distribution to you, including the applicability and effect of all U.S. federal, state, local and foreign tax laws.