TIDM93YM

RNS Number : 3813D

Telstra Corporation Ld

19 October 2022

 
 19 October 2022                       Office of the Company Secretary 
 
                                        Level 41 
  The Manager                           242 Exhibition Street 
                                        MELBOURNE VIC 3000 AUSTRALIA 
  RNS 
                                        General Enquiries 03 8647 4838 
                                        Facsimile 03 9650 0989 
                                        companysecretary@team.telstra.com 
 
                                        Investor Relations 
                                        Tel: 1800 880 679 
                                        investor.relations@team.telstra.com

ELECTRONIC LODGEMENT

Dear Sir or Madam

Court approves Telstra scheme of arrangement

In accordance with the Listing Rules, I attach a market release, for release to the market. Authorised for lodgement by the Company Secretary.

Yours faithfully,

Sue Laver

Company Secretary

Telstra Corporation Limited

ACN 051 775 556

ABN 33 051 775 556

MARKET RELEASE

Court approves Telstra scheme of arrangement

Wednesday 19 October 2022 - Telstra today announced the Supreme Court of New South Wales had approved the scheme of arrangement (Scheme) being used to help finalise Telstra's corporate restructure. The Court approval follows Telstra shareholder approval of the Scheme at the meeting held on 11 October 2022 and was the last remaining condition precedent to the Scheme that needed to be satisfied.

A copy of the Court orders is expected to be lodged with ASIC tomorrow, at which time the Scheme will become legally effective.

The Scheme comprises two components:

-- the Top Hat Componentthat is being used to establish Telstra Group Limited as the head entity of the Telstra group; and

-- the Business Restructure Componentthat is being used to transfer certain assets and liabilities within the Telstra group.

On implementation of the Top Hat Component, eligible Telstra shareholders will receive one share in Telstra Group Limited for each Telstra share they hold.

The key dates for the implementation of each component of the Scheme are set out below:

 
 Event                                                  Date 
 Date the Scheme becomes legally effective              20 October 2022 
  Last day of trading in Telstra shares on the 
  ASX 
                                                       --------------------- 
 Telstra Group Limited shares commence trading          21 October 2022 
  on the ASX on a deferred settlement basis 
                                                       --------------------- 
 Record date for the Top Hat Component                  7:00pm on 24 October 
  All eligible Telstra shareholders on the register      2022 
  at this time will participate in the Top Hat 
  Component 
                                                       --------------------- 
 Implementation of the Top Hat Component                31 October 2022 
  Eligible Telstra shareholders receive their 
  Telstra Group Limited shares 
                                                       --------------------- 
 Telstra Group Limited shares commence trading          1 November 2022 
  on the ASX on a normal settlement basis 
  Despatch of holding statements for the Telstra 
  Group Shares commences 
                                                       --------------------- 
 Implementation of the Business Restructure Component   1 January 2023 
                                                       ---------------------

The dates above are indicative only and subject to change. Any change will be announced to the ASX.

For more information on the Scheme, please refer to the Scheme Booklet released by Telstra on 23 August 2022.

<ENDS>

Telstra media contact: Steve Carey, General Manager Media

M: +61 413 988 640

E: media@team.telstra.com

Reference number: 077/2022

Telstra investor contact: Nathan Burley, Investor Relations

T : +61 457 529 334

E : investor.relations@team.telstra.com

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END

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