By - Tamnna
Highlights
- Telstra’s shares have gained by 0.123% today, trading at AU$3.865 per share at 11:24 AM AEDT, 15 November.
- The company announced the exit of its group CEO of 12 years on 14 November.
Shares of Australian telecommunications company Telstra Group Limited (ASX:TLS), formerly known as Telstra Corporation Limited, were headed to the green zone in today morning’s (15 November) trading session. The share price of Telstra gained about 0.127% and was trading at AU$3.865 apiece on the ASX today at 11:24 AM AEDT, 15 November.
Yesterday (14 November 2022), Telstra announced the exit of its Transformation, Communications, and People group’s CEO, Alex Badenoch. She has decided to step down after serving Telstra for about 12 years.
Apart from the group CEO change, Telstra has recently got approval from the court regarding its scheme of arrangement. This scheme is expected to help Telstra finalise its corporate restructuring, as per the official ASX report submitted on 19 October 2022. The scheme became legally effective the next day, and Telstra’s shares were put on a trading halt till 1 November.
The scheme has also been approved by Telstra’s shareholders on 11 October and comprises of two components:
On 31 October, Telstra confirmed the implementation of the scheme’s first component, which simply means its shareholders will now own shares of Telstra Group Limited instead of Telstra Corporation Limited.
Telstra shared its annual general meeting (AGM) results on 11 October and received authorisation for amended NBN agreements on 7 October. The authorisation was granted earlier on 15 September by ACCC (Australian Competition and Consumer Commission), but it came into effect on 7 October. The company shared its FY22 results on 11 August, followed by the retail shareholder meeting on 29 September.
Image Source: © 2022 Kalkine Media ®
Data Source: Company announcement dated 11 October 2022
Shares of Australian telco have dropped 2.28% in the last five trading sessions while gaining 1.85% in a month. On a year-to-date (YTD) basis, Telstra’s share price has plunged 8.53%, and in a year, it has declined by 3.50%.