Vodafone Hutchison Australia Limited (VHA) has welcomed the announcement that the Supreme Court of New South Wales today made orders approving the scheme of arrangement (Scheme) between VHA and TPG Telecom Limited (TPG).
VHA Chief Executive Officer Iñaki Berroeta said the court orders paved the way for completion of the merger.
“We’re pleased to have obtained the final merger approval and we look forward to bringing VHA and TPG together on 13 July,” Mr Berroeta said.
“At the heart of this merger are two businesses with complementary infrastructure and a shared ethos as customer champions, and together we will be a stronger force for Australian consumers.”
Key dates for implementing the Scheme are summarised below:
Scheme effective, VHA name change
The Scheme will become effective and Vodafone Hutchison Australia Limited will change its name to TPG Telecom Limited on Monday 29 June 2020.
Suspension of TPG shares from trading
TPG shares to be suspended from trading on ASX from the close of trading on Monday 29 June 2020.
New TPG Telecom to be admitted to ASX
The new TPG Telecom Limited will be admitted to the ASX under the code ‘TPG’ on Tuesday 30 June 2020, with trading to commence on a deferred settlement basis.
Implementation Date
The Scheme to be implemented on Monday 13 July 2020. The new TPG Telecom will be a house of brands featuring Vodafone, TPG, iiNet, Lebara, AAPT and Internode.
New TPG Telecom shares
New TPG Telecom shares to commence trading on an ordinary settlement basis on Tuesday 14 July 2020.
