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Travis Perkins Completes Demerger Of Wickes

Travis Perkins has today completed the demerger of Wickes Group plc (“Wickes”), following the General Meeting of Travis Perkins shareholders yesterday who approved the demerger. The shares of Wickes (ticker “LSE: WIX”) will be admitted at 8.00 a.m. today to the premium listing segment of the Official List and to trading on the main market of the London Stock Exchange.

Alongside the demerger, Travis Perkins shareholders also approved the resolution to consolidate shares in Travis Perkins in order to maintain broad comparability, as far as possible, between Travis Perkins’ share price before the demerger and after the Travis Perkins share consolidation.

The share consolidation is expected to take place after the market closes today (28¬†April 2021). It is expected that admission and dealings in the new Travis Perkins shares on the London Stock Exchange will commence at 8.00 a.m. on 29 April 2021. Travis Perkins will provide an update following the group’s share consolidation at 7.00 a.m. on 29 April 2021.

The ratio for the share consolidation cannot be fixed at this time as it will depend on fluctuations in the volume and price of the Travis Perkins shares in the period between 8:00 a.m. and 4:30 p.m. today (28 April 2021).

Further details on the share consolidation can be found in the Travis Perkins Circular.

Source : Insight DIY


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