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Wesfarmers gets frank

AGRIBUSINESS and transport conglomerate Wesfarmers has released details of a plan to simplify its ownership structure.

About 50 per cent of Wesfarmers is owned by Westralian Farmers Co-operative Limited Investments, a body formed by the Franked Investments Fund and the Westralian Farmers Co-operative that created Wesfarmers.

The FIF was created in 1988 to give Coop members more value for their holdings.

The Wesfarmers plan involves acquiring WFCLI, exchanging its shares for FIF units and options and Coop stock and buying Gresham Partners Management Limited, the body responsible for the FIF.

Under the plan, one Wesfarmers share will be worth about 2.5 FIF units, roughly 10.5 FIF options and $12.90 of Coop stock.

Due to changed tax laws, such scrip for scrip deals will not draw any Capital Gains Tax liabilities.

Chairman Harry Perkins said the restructure would make Wesfarmers more attractive to investors.

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Wesfarmers (WES)

Share Price

Closing price for the last 90 trading days
Source: Morningstar

BN30 Index

Index = 100 as of 4 Jan 2016
Source: Morningstar

Total Shareholder Return as at 29/06/18

1 year TSR5 year TSR
162ndSeven Group Holdings79%29%
288thWesfarmers30%10%
345thSeven West Media21%-9%
420thAustal4%22%
538thAutomotive Holdings Group-10%3%
722 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

14/06/18
$47k Bought
05/04/18
$5k Issued
05/04/18
$11k Issued
Total value as at the date of the transaction
Source: Morningstar

Revenue

1st-Wesfarmers$68,648.0m
2nd-Automotive Holdings Group$6,079.6m
3rd-Seven Group Holdings$2,340.3m
4th-Seven West Media$1,679.0m
5th↑Austal$1,325.3m
239 listed industrial companies ranked by revenue.
Source: Morningstar

Remuneration from Wesfarmers

3rdJohn Durkan$5.288m
5thGuy Russo$4.038m
17thRob Scott$1.908m
Ranked by total remuneration from all listed WA companies

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