Site menu

Search by ticker code:
Generic filters


Search by ticker code:
Generic filters

Search by ticker code:
Generic filters

Wesfarmers Ltd (ASX:WES) Coles Demerger Is 1 Step Closer

Wesfarmers Ltd (ASX:WES) shareholders have voted their approval for the demerger of Coles.

Wesfarmers Ltd (ASX: WES) shareholders have voted their approval for the demerger of Coles shares.

Each Wesfarmers shareholder will receive one Coles share for every one Wesfarmers share they own.

The Coles demerger

Wesfarmers expects that Coles shares will begin trading on the ASX on a deferred settlement basis at 11 AM on 21 November 2018.

The Wesfarmers Chairman Michael Chaney said:

The endorsement of our shareholders means we can proceed to implement the significant re-positioning of the Group’s portfolio, one which we believe sets up both Wesfarmers and Coles for future success.”

What has Coles announced so far?

Coles and Wesfarmers plan to pay dividends that would equal what Wesfarmers would have paid as a joint entity.

To create the next stage of growth Coles plans to roll-out a large number of ‘Coles Local’ stores that are located in higher-density areas, they will be smaller than a full-size supermarket and carry fewer products, but shoppers will still be able to do a weekly shop there.

The Coles Local stores will focus on Australian fresh food and already-made meals for people who are time-poor.

Coles has also announced it is investing $600 million to $800 million in two new automated distribution centres.

Read Next: 3 Proven ASX Shares

The Rask Group Pty Ltd has issued its latest investing research report on 3 proven ASX dividend + growth sharesClick here to access the free report. No credit card or payment required. (sponsored)

$50,000 per year in passive income from shares? Yes, please!

With interest rates UP, now could be one of the best times to start earning passive income from a portfolio. Imagine earning 4%, 5% — or more — in dividend passive income from the best shares, LICs, or ETFs… it’s like magic.

So how do the best investors do it?

Chief Investment Officer Owen Rask has just released his brand new passive income report. Owen has outlined 10 of his favourite ETFs and shares to watch, his rules for passive income investing, why he would buy ETFs before LICs and more.

You can INSTANTLY access Owen’s report for FREE by CLICKING HERE NOW and creating a 100% FREE Rask Account.

(Psst. By creating a free Rask account, you’ll also get access to 15+ online courses, 1,000+ podcasts, invites to events, a weekly value investing newsletter and more!)

Unsubscribe anytime. Read our TermsFinancial Services GuidePrivacy Policy. We’ll never sell your email address. Our company is Australian owned.

Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.

Skip to content