Tabcorp Holdings (TAH) June 2011 demerger of Star Entertainment Group (SGR).
- October 2, 2019
- Posted by: Grace Williams
- Categories: Lost Finances, Mergers
Tabcorp Holdings (TAH) demerged its casino business from its wagering and keno businesses, and issued shareholders with shares in the new entity; Echo Entertainment Group (EGP). Eligible shareholders received 1 SGR share for each TAH share they own.
The demerger of The Star Entertainment Group (formerly known as Echo Entertainment Group Limited) from Tabcorp Holdings Limited (Tabcorp) was implemented on 15 June 2011 by way of Scheme of Arrangement pursuant to the Tabcorp Scheme Booklet dated 15 April 2011 (Demerger).
As part of the Demerger, Tabcorp sought a ruling from the Australian Taxation Office on the taxation implications for shareholders. On 29 June 2011, the Australian Taxation Office issued Class Ruling CR 2011/66, in accordance with the application made by Tabcorp. A copy of the Class Ruling CR 2011/66 can be viewed here.
- Demerged 2011
We understand that on or about this date the company demerged Echo Entertainment Group Limited by way of a 1 for 1 distribution – the Demerged Entity represented 56.36% of the market value of the group as a whole immediately after the demerger.
- Lost Tabcorp Shareholdings
Many shareholders in this company have Lost Share Investments due to them – Investafind provides a service to identify these lost shareholdings arising from such circumstances.