Webjet Limited is pleased to announce that it will convene an Extraordinary General Meeting of Webjet Limited shareholders on 17 September 2024 to consider and vote on the Demerger of Webjet Group Limited (Webjet B2C) from Webjet Limited.
If the Demerger proceeds, subject to shareholder approval (see below), it will result in two ASX listed companies with leadership positions in their respective industries and each with their own distinctive operating profiles, strategies and growth opportunities:
- Webjet Group Limited (Webjet B2C) which will operate the B2C businesses of Webjet OTA and GoSee; and
- Webjet Limited (to be renamed WEB Travel Group Limited) which will operate the WebBeds B2B business.
The Demerger will be effected by way of an in-specie dividend and capital reduction. If the Demerger is approved, eligible shareholders will receive one Webjet Group Limited Share for every Webjet Limited Share they hold on the Demerger Record Date (being 7.00pm AEST on 24 September 2024). Shareholders will also retain their existing shareholding in Webjet Limited (to be renamed WEB Travel Group Limited post Demerger).
Information relating to the Demerger has been sent to shareholders including a Demerger Booklet setting out the advantages, disadvantages and risks of the Demerger, a copy of the Independent Expert’s Report, and notice of Extraordinary General Meeting. Shareholders have also been sent the proxy and direct voting form and sale facility form. The Demerger Booklet can be viewed below.
The Extraordinary General Meeting (EGM) will take place at 9.00am (AEST) on Tuesday, 17 September 2024
