What does WFT mean in ASX SYMBOLS
WFT is an abbreviation for Westfield Trust Ltd, a company known for its merger with the NASDAQ-listed Westfield Development Corporation (WDC). WFT is one of the most important entities in the property development and investment industry, having made a big impact on many projects around the world. This article will look at what WFT means, how it came to be, and what its current activities are.
WFT meaning in ASX Symbols in Business
WFT mostly used in an acronym ASX Symbols in Category Business that means Westfield Trust Ltd merger WDC
Shorthand: WFT,
Full Form: Westfield Trust Ltd merger WDC
For more information of "Westfield Trust Ltd merger WDC", see the section below.
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Essential Questions and Answers on Westfield Trust Ltd merger WDC in "BUSINESS»ASX"
What is Westfield Trust Ltd (WFT) and why has it merged with Westfield Corp (WDC)?
Westfield Trust Ltd was established in 2008 to manage the investments of the Lowy family. The merger between WFT and WDC allows the two companies to benefit from their combined resources, expertise, and networks. This will enable them to better serve their customers and strengthen their positions in commercial and retail markets.
How will the merger affect investors?
The merger is expected to result in financial benefits for both companies as well as additional value for shareholders through the leveraging of each company’s capabilities, economies of scale, cost synergies, growth opportunities, and product diversification.
What changes will be made as a result of the merger?
As a result of the merger, WFT’s name will be changed to Westfield Corporation Limited (WDC), its Australian Securities Exchange ticker symbol will change from WFT to WDC, its sharemarket listing will occur simultaneously with the completion of the transaction on a deferred settlement basis and its board of directors will have an equal number of representatives from both companies.
Who are members of Westfield Trust Ltd’s board?
Members if Westfield Trust Ltd’s board consist of Peter Lowy (Chairman), Steven Lowy (Deputy Chairman), Mark Goldstone (CEO & Director) along with independent Directors David Gonski AC, Michael Ullmer AO and Barbara Ward AM.
How long do you expect the process to go on?
Subject to obtaining shareholder approval at general meetings which are currently scheduled for late November 2019; it is anticipated that completion will take place by late December 2019.
What shares entitlements apply following completion of the proposal?
Shareholders in WFT will receive 1 WDC share for every 11 held in WFT. Shareholders are not required to take any action or pay any consideration for this entitlement.
Does this mean there is a new Board? Will existing Boards have roles within the merged entity?
Yes there is a new Board comprising 12 members being an equal representation from both companies immediately preceding Completion Day – six from each Company prior to Completion Day - including current Chairman Peter Lowy who is appointed Chairman of the combined company on completion day.
Is there an opportunity for retail investors to participate in this once-in-a-lifetime event?
Yes there is! Retail investors who hold shares in either or both companies may participate by voting at general meetings organised by each company or via proxy form before completion day. They can also submit applications through brokers or financial advisers subject to broker/adviser terms and conditions if applicable.
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