17 Sep, 2024

Shareholders approve demerger.

Global digital travel organisation Webjet Limited, has announced its shareholders have approved the demerger of its B2C division at an Extraordinary General Meeting (EGM) held earlier today.

Global digital travel organisation Webjet Limited, has announced its shareholders have approved the demerger of its B2C division at an Extraordinary General Meeting (EGM) held earlier today.

The approved demerger will create two ASX listed companies on 30 September 2024, with leadership positions in their respective industry segments and each with their own distinctive operating profiles, strategies and growth opportunities.

Effective 30 September, the two listed parent companies will be structured as follows:

Web Travel Group 
Webjet Limited will be renamed Web Travel Group Limited (ASX:WEB) and operate global B2B travel marketplace, WebBeds.

Webjet Group 
Webjet Group Limited (ASX:WJL) will operate the B2C businesses of:

  • Webjet OTA - Australia & New Zealand’s leading online travel agent (OTA)
  • GoSee - a global motorhome and car rental ecommerce site
  • Trip Ninja - travel technology business automating complex travel itineraries 

The Webjet Limited Board believes the demerger will position both companies for ongoing success as they pursue their own growth agendas.

Advantages of the Demerger.
  • Create two independent and simplified businesses that are simpler, more agile and focused on their respective businesses and customers
  • Improve the ability for each business to pursue independent strategic priorities and growth agendas
  • Allow each business to adopt tailored capital structures and financial policies appropriate for each businesses’ unique characteristics
  • Introduce flexibility for existing and new shareholders to choose their level of investment in Web Travel Group and Webjet Group 

As part of the demerger, former Webjet Limited Board member Katrina Barry has taken the reins as Managing Director of the newly formed Webjet Group and Shelley Beasley, who is continuing her role as Chief Operating Officer of Web Travel Group, will join the Webjet Group Board of Directors.

Webjet Group Limited (ASX:WJL) will commence trading on the Australian Stock Exchange on Monday 23 September 2024.

Visit the Web Travel Group Investor Centre.

With Webjet Group Limited demerging from the Web Travel Group (formerly Webjet Limited), they now have a dedicated Investor Centre website. We invite you to visit the site, and update any favourites or stored pages.

Web Travel Group Investor Centre
nws img link card to WEB
For further information.

Investors
Carolyn Mole Investor Relations
investor@webjegroup.com

Media
James Strong
j.strong@morrowsodali.com
+61 448 881 174

Share this post
Copy link
hm img ft mission black Sep24

To help people travel by seamlessly integrating world class technology to offer unparalleled choice and convenience.

hm img ft vision black Sep24

To enhance the leadership positions of our online travel marketplaces in Australia and New Zealand.

Share Price

Visit ASX website

Webjet Group Limited

*Price delayed by 60 minutes.