Endeavour Group has listed on the Australian Securities Exchange (ASX) after Woolworths shareholders voted in favour of demerging the group last week.
ASX trading commenced yesterday on a conditional and deferred settlement basis, and trading on a normal settlement is expected to start from July 1, after shares are transferred to eligible shareholders. Endeavour Group is trading under the ticket code EDV.
Ahead of the listing, Endeavour Group Managing Director and CEO, Steve Donohue, said: “This is a very significant day for Endeavour Group’s 28,000 team members throughout Australia, who are united around our purpose of ‘creating a more sociable future together’, and for our partners, customers and many other stakeholders.
“We are excited about the future as we continue to focus on growth and building on the successful platform we have in place through our portfolio of trusted retail brands. Our teams are supported by our Pinnacle Drinks brand and manufacturing business, our industry-leading digital capabilities via EndeavourX, and the value of our ongoing partnership with Woolworths Group.”
Endeavour Group Chairman Peter Hearl said: “Joining the ASX under our own name and as a standalone business marks the next chapter in Endeavour Group’s evolution. On behalf of the entire Board, it is a privilege to be a part of such a milestone, and we welcome and thank our new shareholders for joining us on this journey.”
Ringing the virtual bell
While COVID restrictions in Sydney meant that Endeavour Group’s official bell ringing ceremony at the Exchange Centre was postponed, that didn’t stop the company from celebrating the occasion yesterday. Team members across the country joined a livestream broadcast, where ASX officials welcomed Endeavour Group to its new position amongst the ASX200, an index of the largest 200 companies on the ASX.
Donohue then held a short speech, and invited all team members to virtually ring a bell, in lieu of the official Exchange Centre one.
“At its core Endeavour is a people business with a proud history and home to some of Australia’s best known brands like Dan Murphy’s and BWS, as well as over 330 local hotels across Australia. Today is a celebration of that connection to team and community, so it feels appropriate that everyone is able to ‘ring the bell’ to celebrate this occasion,” Donohue said.
“We are committed to creating a more sociable future together, and we can all feel super confident about how bright that future is if we stay true to that purpose that I know we all believe in.
“It’s obviously a very historic day for all of us at Endeavour Group, we are not to be foiled by Covid. If you think about our journey as a team, we were planning to get this demerger done quite a while ago but obviously Covid got in the way the first time around. We weren’t going to let it get in the way the second time around!
“Thank you to all 28,000 team members – we don’t get to this stage without you, and we certainly don’t get beyond this stage without you.”
Hundreds of photos were shared by Endeavour Group team members from stores, hotels, warehouses, homes and offices across the country, showing what they were doing during the historic moment. This included some creative bell ringing ideas, like bicycle bells, door bells and a cap and bells.