SIGMA announced yesterday that its acquisition of 100% of the issued shares in CW Group Holdings Limited (Chemist Warehouse) by way of scheme of arrangement has now been implemented.
Sigma now holds all of the ordinary shares in Chemist Warehouse, and Chemist Warehouse is a wholly owned subsidiary of Sigma.
Chemist Warehouse shareholders who were entitled to receive the scheme consideration got around 45 cents cash per share and just over six new Sigma shares per Chemist Warehouse Share held as at the scheme record date (which was Thu 06 Feb 2025).
The new Sigma shares issued under the scheme will commence trading on a normal settlement basis from today.
Changes to senior management have also now taken effect.
Kate Spargo has resigned as director of Sigma, and the company issued a statement thanking her for her substantial contribution to Sigma over many years.
Jack Gance, Mario Verrocchi, Damien Gance and Danielle Di Pilla took up their appointments as new directors of Sigma yesterday.
All eyes are now on the stockmarket, with Chemist Warehouse franchisees able to sell their shares.
Some financial commentators have suggested that with their wealth tied up in Chemist Warehouse, franchisees will be keen to liquidate sooner rather than later.
Early trading saw that come to bear, with the Australian Financial Review reporting that over 60 million shares changed hands last night, representing $175 million worth of stock.
As we went to press, shares were trading at $2.86, a slight rise from yesterday but down from a high of just over $3 in late Jan. KB
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