On 3 July 2019, Woolworths Group announced its intention to combine the Woolworths Drinks Business and ALH Group to create Endeavour Group.
The creation of Endeavour Group will be enabled by the Restructure, which is the internal reorganisation through which certain assets and liabilities of the Woolworths Drinks Business, as well as Woolworths’ 75% ownership interest in ALH, are transferred into a distinct legal entity within Woolworths.
Following the Restructure, Woolworths will seek to complete the ALH Merger, whereby Woolworths (through Endeavour) will acquire Bruce Mathieson Group's (BMG) interest in ALH in exchange for issuing BMG with a 14.6% shareholding in Endeavour. Upon completion of the ALH Merger, Endeavour will be 85.4% owned by Woolworths and 14.6% owned by BMG. The ALH Merger does not require shareholder approval and is expected to proceed if the Restructure occurs.
Subsequent to the Restructure and ALH Merger, Woolworths intends to separate Endeavour Group through a demerger or other value accretive alternative. Woolworths currently intends to seek shareholder approval for this at an appropriate time in the future.
At the current time, you are only being asked to consider and vote on the Restructure Scheme, which is a key step by which the Restructure will be undertaken. The Restructure Scheme requires Shareholder approval and also the approval of the Court.
Shareholders will vote on the Restructure Scheme Resolution at the Restructure Scheme Meeting, which will be held concurrently with the 2019 Annual General Meeting on Monday 16 December 2019 at 10:00 am (AEDT) at the International Convention Centre Sydney in the Pyrmont Theatre.
Shareholders can vote at the Restructure Scheme Meeting in person or appoint a proxy, attorney, or a corporate representative by submitting a Proxy Form by 10:00 am (AEDT) on Saturday 14 December 2019.
If you are a Shareholder and have a question about the Restructure Scheme or upcoming Restructure Scheme Meeting, please contact:
Link Market Services
1300 368 664 within Australia
+61 1300 368 664 outside Australia
(Monday to Friday 8.30am-7.30pm AEDT)