Shareholders approve Tabcorp lottery demerger

Finance News

Tabcorp shares are rose this week amid news of the company’s vote on demerging from The Lottery Corporation, shareholders voted with an overwhelming majority to proceed with the demerger. 

Tabcorp Chairman Steven Gregg said: “We are pleased to have received shareholder approval
for the demerger of The Lottery Corporation from Tabcorp. This is an important milestone in
repositioning the Group’s portfolio and setting up Tabcorp and The Lottery Corporation for
future success.”

Tabcorp will now seek orders from the Supreme Court of New South Wales for approval of the
scheme of arrangement to effect the Demerger, with the hearing scheduled for Friday, 20 May 2022.

If the Scheme is approved by the Court, Tabcorp proposes to lodge a copy of the orders made by the Court with the Australian Securities and Investments Commission on Monday, 23 May 2022 and the Scheme will become effective on that date.