A share reorganisation like this does not count as a disposal until the new shares are sold. If you sell half of your new shares when they are converted then you can use half the original cost of the shares for CGT purposes.
Thanks guys for this, makes sense.
A number of my friends have accumulated AIB shares over the years, some back as far as 1980, via profit share, straight purchase, salary in lieu etc, coupled with part disposals.
The records, other than the disposals, are skimpy at best: any thoughts on how to establish base cost.
Thanks