RE: GSK split6 Jun 2022 16:24
It was explained quite far into one of the RNS last week, but for info:
"Prior to the Demerger, GlaxoSmithKline Consumer Healthcare Holdings (No. 2) Limited ("JVCo"), the current holding company of the Consumer Healthcare business, will pay dividends to GSK and Pfizer, which are expected to result in GSK receiving cash proceeds of more than £7 billion at separation (the "Pre-Demerger Dividends"). Qualifying GSK shareholders will be entitled to receive one Haleon share for each GSK share held by them and will continue to own their GSK shares unless they sell or transfer them in the ordinary course.
Following the Demerger, the total issued ordinary share capital of Haleon will be held as follows:
· at least 54.5 per cent. will be held in aggregate by GSK shareholders;
· up to 6 per cent. will be held by GSK;
· 32 per cent. will be held by Pfizer; and
· certain Scottish limited partnerships (the "SLPs") set up to provide a funding mechanism pursuant to which GSK will provide additional funding for GSK's UK Pension Schemes, will in aggregate hold 7.5 per cent."