WPP AUNX will officially be delisted from the ASX at the close of trading today, after the UK’s WPP plc took full control of the Australian operations.
In an announcement to the ASX today, WPP AUNZ confirmed that WPP plc, via Cavendish, now holds all of the WPP AUNZ shares that it did not already own.
Last month, WPP AUNZ’s shareholders voted in favour of the takeover, which saw all WPP AUNZ shareholders that held their shares as of the FY20 Total Dividend record Date (31 March 2021) entitled to receive a total cash payment of $0.70 per WPP AUNZ share, less any dividends declared.
WPP AUNZ also confirmed that $0.50 per WPP AUNZ share has today been paid to each WPP AUNZ shareholder who held shares in the company as of Tuesday 11 May.
Additionally, local board directors Kim Anderson, Graham Cubbin and Robert Mactier have all resigned from WPP AUNZ.
It remains to be seen whether or not the takeover will result in further personnel changes at WPP in Australia.
