What’s happening with Telstra’s (ASX:TLS) shares lately?

2 min read | November 15, 2022 12:08 PM AEDT | By Tamnna

What’s happening with Telstra’s (ASX:TLS) shares lately? — Image source: © Arliftatoz2205 | Megapixl.com

What else has happened at Telstra this year?

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:

Telstra Group Limited to become the head entity of the Telstra group.
Move of specific assets and liabilities within the Telstra group.

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.

Data Source: Company announcement dated 11 October 2022

Share performance of Telstra

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%.

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