Wesfarmers (ASX:WES) is pleased to announce that shareholders have approved the demerger of Coles Group from Wesfarmers.
Confirmation came following yesterday's AGM.
Coles shares will now be listed on the ASX on November 20, subject to regulatory approval.
Wesfarmers Chairman, Michael Chaney AO says it was pleasing to receive overwhelming shareholder approval for the demerger.
If the Scheme is approved by the Court, Wesfarmers proposes to lodge a copy of the orders made by the Court with the Australian Securities and Investments Commission on Tuesday, 20 November 2018 and the Scheme will become effective on that date.
The time and date for determining entitlements to Coles shares is 4:00pm Perth time on Thursday, 22 November 2018.
Shares in Wesfarmers (ASX:WES) closed 1.67 per cent lower to $45.37 yesterday.