This week Wesfarmers (ASX:WES) annouced that shareholders and the Supreme Court of Western Australia have approved the Demerger of Coles Group Limited from Wesfarmers. The Scheme of Arrangement for the Demerger has now become effective. Under the Demerger Scheme, Wesfarmers Shareholders will receive 1 Coles share for every 1 Wesfarmers share held as at the Record date, 22 November 18.
The schemes are scheduled to be implemented on Wednesday, 28 November 2018.
Coles Group will have the new ASX ticker code ‘COL’ and will commences trading on ASX on a normal settlement basis on Thursday, 29 November 2018.