ANZ has proposed a plan to establish a non-operating holding company and separate its banking and certain non-banking businesses into two distinct groups. This initiative, referred to as the Restructure, is aimed at reorganizing the company's structure.
On October 27, 2022, ANZ released its reviewed financial statements for the full year ending September 30, 2022. These financial results have been evaluated by an independent expert, Grant Samuel & Associates Pty Limited. The expert confirmed that the financial results do not alter their opinion as stated in their report.
Additional details regarding the proposed Restructure, including the scheme of arrangement and ANZ's explanatory memorandum related to it, are available on ANZ's website.
The directors of ANZ maintain that the proposed Restructure is in the best interests of shareholders. However, this plan can only proceed if approved by ANZ shareholders. The directors recommend that shareholders vote "Yes" in favor of implementing the Scheme necessary for the Restructure.
A meeting regarding the Scheme will take place on December 15, 2022. This meeting will occur shortly after the conclusion or adjournment of ANZ's 2022 Annual General Meeting but not before 12:30 PM Melbourne time. Shareholders can participate either in person or online.