Insights

Tabcorp share price rangebound following lotto demerger vote

Shareholders have had their final say on the demerger-decision.
The post Tabcorp share price rangebound following lotto demerger vote appeared first on The Motley Fool Australia. –

Shares of Tabcorp Holdings Ltd (ASX: TAH) are rangebound today and are currently less than 1% down at $5.03 apiece.

The Tabcorp share price has traded in a range of $4.975 –$5.065 to the point of writing in Thursday’s session.

What’s up with the Tabcorp share price today?

Shareholders had their chance to vote on the company’s decision to proceed to a demerger of The Lottery Corporation from Tabcorp.

Shortly after voting, it was revealed that Tabcorp shareholders have “overwhelmingly approved” the demerger.

Tabcorp Chairman, Steven Gregg was pleased on the result.

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.

What now?

Tabcorp says that it will now seek orders from the Supreme Court of NSW for approval of the merger. The hearing is scheduled for Friday 20 May 2022.

“If the Scheme is approved by the Court,” Tabcorp says, “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.”

“Subject to approval of the Scheme by the Court, The Lottery Corporation shares are expected
to begin trading on ASX on a deferred settlement basis on Tuesday 24 May 2022.”

Investors can determine their entitlements to The Lottery Corporation shares from 7pm (Sydney time) on Wednesday, 25 May 2022.

Tabcorp shares are less than 1% in the green for the last 12 months and are flat this year to date as well.

The post Tabcorp share price rangebound following lotto demerger vote appeared first on The Motley Fool Australia.

Should you invest $1,000 in Tabcorp Holdings right now?

Before you consider Tabcorp Holdings, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Tabcorp Holdings wasn’t one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of January 13th 2022

More reading

Here are the 3 most heavily traded ASX 200 shares on Tuesday
‘Hidden value’: The ASX share with a major catalyst coming
Gambling & explosives: fund reveals 2 ASX shares to buy right now

Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

  • This field is for validation purposes and should be left unchanged.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US & HK* Trades. Click Here!