Wesfarmers Limited has today announced its demerger from the Coles Group Limited following approval from Western Australia’s Supreme Court. The demerger was approved by shareholders at the general meeting and scheme meeting held last Tuesday.
Wesfarmers intends to lodge a copy of the orders made by the Supreme Court of Western Australia with the Australian Securities and Investments Commission on Tuesday, 20 November 2018 and the Scheme will be effective on that date.
Coles is expected to commence trading on the ASX on Wednesday, 21 November 2018 under the ASX code ‘COL’, initially on a deferred settlement basis. Wesfarmers will trade on an ex-entitlement basis from Wednesday, 21 November. The Demerger will officially be implemented on Wednesday, 28 November 2018.