TPG Scheme approved by Court
TPG Telecom Limited (ASX: TPM) (‘TPG’) is pleased to announce that the Supreme Court
of New South Wales has today made orders approving the scheme of arrangement
between TPG and its shareholders (‘Scheme’) in relation to the proposed merger of TPG
and Vodafone Hutchison Australia Limited (‘VHA’).
TPG expects to lodge a copy of the orders of the Supreme Court of New South Wales
approving the Scheme with the Australian Securities and Investments Commission on
Monday, 29 June 2020, at which time the Scheme will become legally effective.
The demerger of Tuas Group (‘Tuas’), the parent company of TPG Singapore, is also
expected to become effective on Monday, 29 June 2020 (‘Demerger’). Pursuant to the
Demerger, all the shares in Tuas will be distributed to eligible TPG shareholders who
appear on the TPG register at 7.00pm on 1 July 2020, pursuant to an in-specie dividend
which is expected to occur on 13 July 2020.
Share trading information
It is expected that TPG shares will be suspended from trading on ASX from the close of
trading on Monday, 29 June 2020.
Shares in VHA (to be renamed TPG Telecom Limited) are expected to be admitted to
ASX’s official list on 30 June 2020 under the ASX code ‘TPG’. Trading will commence on a
deferred settlement basis until the implementation of the Scheme, expected to occur on
13 July 2020, and ordinary settlement trading is expected to commence from 14 July
The Tuas shares are expected to be admitted to ASX’s official list on 30 June 2020 under
the ASX code ‘TUA’. Trading will commence on a conditional and deferred settlement
basis until the implementation of the Scheme, expected to occur on 13 July 2020, and
ordinary settlement trading is expected to commence from 14 July 2020 onward.
The Scheme is expected to be implemented on 13 July 2020. Other key dates for the
implementation of the Scheme and the Demerger are set out in the Scheme Booklet and
Tuas Information Memorandum sent to shareholders and in earlier ASX announcements
TPG is being advised by Macquarie Capital (Australia) Limited as exclusive financial
adviser and Herbert Smith Freehills as legal counsel.
63-65 Waterloo Road
Macquarie Park, NSW 2113
T: (02) 8220 6000
F: (02) 9888 9148
ABN: 46 093 058 069
TPG Telecom Limited
If TPG shareholders have any questions or require further information in relation to the
Scheme or the Demerger, they should call the Shareholder Information Line on 1300
855 080 (callers within Australia) or +61 3 9415 400 (callers outside Australia) on
Monday to Friday between 8:30am and 5:30pm (AEST).
courtesy of Bell Direct
i hold TPM 'free-carried '
crikey they are making hard work of this