Coles Demerger
On Thursday 15 November 2018, Wesfarmers shareholders approved the demerger of Coles Group Limited from Wesfarmers, and Court approval for the scheme of arrangement to implement the demerger was received on Monday 19 November 2018.
On Wednesday 21 November, Coles Group Limited shares commenced trading on the ASX on a deferred settlement basis and Wesfarmers shares commenced trading on an ex-demerger entitlements basis.
Wesfarmers shareholders will have seen a fall in the ASX price of Wesfarmers shares on this day to reflect that:
- Wesfarmers shares are being valued excluding Coles Group Limited (other than Wesfarmers’ 15% retained stake) and:
- for every Wesfarmers share they held on 22 November 2018, eligible Wesfarmers shareholders receive one Coles share (in addition to retaining their Wesfarmers shares).
On Wednesday 28 November, the demerger of Coles was completed and the transfer of Coles shares to eligible shareholders occurred. Normal trading of Coles shares commenced on Thursday 29 November and despatch of holding statements to eligible shareholders occurred on Friday 30 November.
The information here will continue to be updated. If you have any additional questions please call the Wesfarmers shareholder information line.
Australian shareholders: 1300 558 062
Overseas shareholders: +61 3 9415 4631
Email: IRelations@wesfarmers.com.au
For information relating to Coles Group, please visit www.colesgroup.com.au
