Shareholder Information
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:
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. Meeting details, registration information and attendance details will be available on our Investor Calendar page.
If you have any questions, please contact the Shareholder Information Line on 1300 556 161 (within Australia) or +61 3 9415 4000 (outside Australia) on weekdays between 8:30am and 5:00pm (Sydney time).
You can download or view the Demerger booklet here. Shareholders should read the Demerger Booklet carefully and consult with their professional advisors before making any voting or investment decisions in relation to the Demerger.
If the Demerger is approved, eligible shareholders will receive one Webjet Group Limited (Webjet B2C) 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).
The advantages of the Demerger are expected to outweigh the disadvantages associated with the Demerger. Please see Section 1.3 and Section 1.4 of the Demerger Booklet for further details on the advantages and disadvantages of the Demerger.
The Webjet Limited Board unanimously considers that the Demerger is in the best interests of Webjet Limited Shareholders and unanimously recommends that you vote in favour of the Demerger Resolution to be considered at the Extraordinary General Meeting. Each Webjet Limited Director who holds or controls Webjet Limited Shares intends to vote in favour of the Demerger Resolution to be considered at the Extraordinary General Meeting.
KPMG, the Independent Expert appointed by Webjet Limited to review the proposed Demerger, has also concluded that the Demerger is in the best interests of Webjet Limited Shareholders. The Independent Expert’s Report is contained in Section 8. of the Demerger Booklet.
Featured Event 17 September, 2024
The EGM, at which Webjet Limited shareholders can vote on the Demerger Resolution, will take place at 9.00am (AEST) on Tuesday, 17 September 2024. Shareholders can attend virtually or in person.
Add to CalendarAt the Extraordinary General Meeting, eligible Webjet Limited shareholders will be able to vote on three resolutions:
Note: The Demerger Resolution is not conditional on the Change of Name Resolution or the Executive Incentive Resolution being approved. For more information, please refer to the Demerger Booklet.
You should read the Demerger Booklet in full, including the advantages, disadvantages and risks of the Demerger as set out in Section 1 and of an investment in Webjet B2C as set out in Section 2.14, before making any decision on how to vote on the Demerger Resolution.
Answers to questions you may have about the Demerger are set out in the ‘Frequently Asked Questions’ Section in the Demerger Booklet.
If you have any further questions, please contact the Shareholder Information Line on 1300 556 161 (within Australia) or +61 3 9415 4000 (outside Australia) on weekdays between 8:30am and 5:00pm (Sydney time).
Webjet Limited Shareholders who are registered on the Webjet Limited Share Register at 7:00pm (AEST) on Sunday, 15 September 2024 are entitled to vote on the Resolutions, subject to certain other conditions. Webjet Limited Shareholders can vote:
To be valid, your proxy must be received by the Webjet Limited Share Registry by 9.00am (AEST) on Sunday, 15 September 2024.
If you are an Eligible Shareholder who individually holds 500 Webjet Limited Shares or less as at the Demerger Record Date, you may elect to have all the Webjet Group Limited (Webjet B2C) Shares that you would otherwise receive under the Demerger sold by the Sale Agent and the proceeds remitted to you, free of any brokerage costs or stamp duty.
To make this election, please visit www.computershare.com.au/websalefacility to complete the Sale Facility Form by 5:00pm (AEST) on Friday, 20 September 2024.
For ease of voting you can submit a proxy through investorvote.com.au
Questions
If you have any questions, please contact the Shareholder Information Line
Weekdays between 8:30am and 5:00pm (Sydney time).
All dates and times below are Australian Eastern Standard Time (AEST), all dates and times following the date of the EGM are indicative only.
Any changes to the timetable will be announced through ASX and will be notified on this website.
Event.
Indicative Date.
Event.
Demerger Booklet Date
Indicative Date.
Thursday, 8 August 2024
Event.
Last time and date by which proxy forms for the Extraordinary General Meeting must be received by the Webjet Limited Share Registry
Indicative Date.
9.00am (AEST), Sunday, 15 September 2024
Event.
Extraordinary General Meeting Record Date
Indicative Date.
7:00pm (AEST),Sunday, 15 September 2024
Event.
Date for determining eligibility to vote at the Extraordinary General Meeting
Indicative Date.
7:00pm (AEST),Sunday, 15 September 2024
Event.
Extraordinary General Meeting
Indicative Date.
9.00am (AEST), Tuesday, 17 September 2024
Event.
Last date Webjet Limited Shares trade on ASX cum-entitlements under the Demerger Admission of Webjet B2C to the Official List
Indicative Date.
Friday, 20 September 2024
Event.
Last date by which Sale Facility Forms must be received by the Webjet Limited Share Registry (for Eligible Shareholders who collectively hold 500 Webjet Limited Shares as at the EGM Record Date)
Indicative Date.
5:00pm (AEST), Friday, 20 September 2024
Event.
First date Webjet Limited Shares trade on ASX on an ex-Demerger entitlement basis
Indicative Date.
Monday, 23 September 2024
Event.
Webjet B2C Shares commence trading on ASX on a conditional and deferred basis
Indicative Date.
Monday, 23 September 2024
Event.
Demerger Record Date. Date for determining entitlement to Webjet B2C Shares under the Demerger
Indicative Date.
7:00pm (AEST), Tuesday, 24 September 2024
Event.
Implementation Date. Transfer of Webjet B2C Shares to Eligible Shareholders (other than Selling Shareholders) and Sale Agent
Indicative Date.
Monday, 30 September 2024
Event.
Normal trading of Webjet B2C Shares on ASX commences
Indicative Date.
Tuesday, 1 October 2024
Event.
Dispatch of holding statements to Eligible Shareholders (other than Selling Shareholders)
Indicative Date.
Wednesday, 2 October 2024
Event.
Completion of sale of Webjet B2C Shares under Sale Facility
Indicative Date.
Monday, 21 October 2024
Event.
Dispatch of payment to Ineligible Shareholders and Selling Shareholders
Indicative Date.
Expected to occur on or before Monday, 4 November 2024
The Extraordinary General Meeting will take place at 09.00am (AEST) on Tuesday, 17 September 2024.
Visit our Investor Calendar page for meeting information and access.
Webjet Limited is proud to support 40:40 Vision to achieve gender balance in senior leadership by 2030.
Webjet Limited is Toitū ‘net carbonzero’ certified, and are part of a collective of organisations leading the way to a low carbon future.