Unclaimed Money Abounds Amidst Paint Giants’ Demerger
- April 2, 2018
- Posted by: Grace Williams
- Categories: Lost Finances, Mergers
28 May 2010
Orica Limited announced today that the Supreme Court of Victoria has ordered a meeting (the Scheme Meeting) of Orica ordinary shareholders to be convened to vote on a scheme of arrangement for the proposed demerger of DuluxGroup Limited by Orica (the Demerger). The Scheme Meeting will be followed by a General Meeting of Orica shareholders to consider other resolutions that are part of the Demerger.
If the Demerger is effected, eligible Orica ordinary shareholders will receive one new DuluxGroup share for every Orica share held.
The Orica shareholder meetings will be held at The Auditorium, Melbourne Exhibition Centre, 2 Clarendon Street, South Wharf, Melbourne on Thursday 8 July 2010, commencing at 10.00am.
The Orica Directors unanimously recommend that shareholders vote in favour of the resolutions to effect the Demerger. The independent expert, Grant Samuel & Associates, has concluded that the Demerger is in the best interests of Orica shareholders.
12 July 2010
The Supreme Court of Victoria approved the scheme of arrangement to demerger DuluxGroup from Orica Limited on 9 July 2010. DuluxGroup Limited commenced trading on the ASX on 12 July 2010.
6 August 2019
The securities of DuluxGroup Limited will be suspended from quotation at the close of trading today, Tuesday, 6 August 2019, in accordance with Listing Rule 17.2, following lodgement of the Federal Court of Australia orders with the Australian Securities and Investments Commission approving the scheme of arrangement by which Nippon Paint Holdings Co. Ltd. will acquire all of the issued shares in DLX.
21 August 2019
The scheme of arrangement between DuluxGroup and its shareholders pursuant to which Nippon Paint Holdings Co., Ltd. will acquire all issued shares in DuluxGroup by way of a scheme of arrangement has today been implemented. The Scheme Consideration of $9.37 per DuluxGroup share held on the Scheme Record Date (being 7:00pm (AEST) on 14 August 2019) has been paid to shareholders today.
22 August 2019
It is understood that Nippon Paint Holdings Co Ltd acquired all of the issued shares for the consideration of $9.37 per DuluxGroup share
22 August 2019
Delisted from the close of trading on Thursday, 22 August 2019, pursuant to Listing rule 17.11.
- Demerger of DuluxGroup
Separate ASX-listed company is a natural evolution of Orica’s business strategy.
DuluxGroup will be a stand-alone, leading premium branded coatings and home improvement products company.
- Orica Shareholders
Will receive one New DuluxGroup share for every Orica share held.
- Orica to DuluxGroup to Nippon Paint Holdings
Many shareholders of the three companies have lost share investments due to them. Investafind provides a services that identifies these lost investments.