At today’s general meeting, Helloworld Limited shareholders unanimously agreed to the company’s merger with AOT Group, officially creating “the leading integrated travel group in the Australian market”, according to chairman Rob Marcolina.
The merger, structured as HLO’s acquisition of AOT, was announced in November last year, with major shareholders Qantas and Europe Voyager confirming their intention to vote in favour of the transaction.
Therefore, it is no surprise that there was almost 235 million votes in favour of the merge compared to just 5.4 million votes against.
“The integration of the two businesses is expected to increase the scale and earnings of the enlarged Helloworld Group, allowing it to compete more effectively with larger participants in retail, wholesale and corporate travel industry and with global online competitors,” Marcolina said.
Following the approval, Andrew Burnes has now become chief executive officer and managing director of Helloworld Group.
At the annual helloworld Owner Managers Summit in Wellington last November, Burnes said he wants to see all helloworld franchisees “at least consider having a stake in the successful and ongoing transformation of this company”.
“Before the end of January, I will be outlining plans which will see each and every owner of our franchisee network having an opportunity to own a part of Helloworld Limited and I believe these initiatives will help to align our mutual efforts to continue to grow and develop our franchise network in Australia and New Zealand,” he said.