• Westfield Group restructure: capital distribution and dividend - creating a new stapled security

    A restructure of the Westfield Group was implemented on 20 December 2010.

    A holder of a Westfield Group stapled security holds one unit in Westfield Trust, one unit in Westfield America Trust, and one share in Westfield Holdings Limited.

    As part of the restructure:

    • Westfield Trust made a capital distribution to Westfield Trust unit holders, satisfied by a distribution of all of the units in the new Westfield Retail Trust 1 (WRT 1), and
    • Westfield Holdings Limited declared a fully franked dividend payable to its shareholders, satisfied by a distribution of all of the units in the new Westfield Retail Trust 2 (WRT 2).

    The units in WRT 1 and WRT 2 were subsequently stapled together and commenced trading on the Australian Securities Exchange (ASX) as Westfield Retail Trust stapled securities.

    New Westfield Retail Trust stapled securities were also issued under an Initial Public Offer (IPO) to the public and under an Entitlement Offer to Westfield Group stapled security holders.

    Further Information

    If you acquired stapled securities in the new Westfield Retail Trust as a result of this restructure, see Westfield Group restructure - capital distribution and dividend - creating a new stapled security (2010).

    End of further information
      Last modified: 14 Sep 2016QC 24438