The Demerger of The Lottery Corporation Limited (The Lottery Corporation™) from Tabcorp Holdings Limited (Tabcorp) is effective from 23 May 2022 by way of Scheme of Arrangement in line with the Tabcorp Demerger Booklet.
The Tabcorp Demerger booklet was registered with ASIC 31 March 2022 and is available on the Australian Securities Exchange (ASX) website here.
Under the Demerger, eligible shareholders were entitled to one The Lottery Corporation™ share for each Tabcorp share they held at the Record Date of 25 May 2022.
The Demerger enabled each eligible shareholder to have separate investments in two companies, which at the time of the Demerger being implemented were:
The Lottery Corporation™ started trading on the ASX under the code TLC on 24 May 2022 on a deferred settlement basis.
The above doesn't take into account the individual circumstances of The Lottery Corporation™ shareholders and doesn't constitute tax advice. The Lottery Corporation™ shareholders should speak to a professional advisor on the tax implications of the Demerger based on their own individual circumstances.