Trading in Smiths News shares begins today
The demerger of WHSmith began on the stock exchange today, with shares in its wholesale business Smiths News trading from this morning.
Trading in new WHSmith shares - the retail arm - is expected to commence on Friday.
WHSmith said that all the conditions to the scheme of arrangement of the business, in connection with the proposed separation of the WHSmith Retail business from the News business, have now been satisfied or are shortly expected to be satisfied.
The scheme became effective shortly after 7.30am today. Smiths News is now the ultimate holding company for the WHSmith Group, comprising both the Retail business and the News business, until September 1.
The demerger is expected to become fully effective at the close of business on August 31.
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