Flight Centre Limited announces plans to go private

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Branded NewsletterFlight Centre Limited last Thursday released a statement to the Australian Stock Exchange announcing the proposal to privatise the company by way of scheme arrangement.

The Information Memorandum has been approved by shareholders by the Supreme Court of Queensland and will be registered with ASIC. It will be released to shareholders ahead of the shareholder meeting set for February 28, 2007 in Brisbane.

Prior to this meeting, shareholders will receive the Information Memorandum as well as the company’s preliminary management results for the half year ending December 31, 2006 and additional details relating to the proposed off-market buy-back. Non-Founder shareholders are welcomed to participate in this process.

If this were to be the case, Non-Founder shareholders would receive $17 per share.

The Information Memorandum also stated that Flight Centre Limited will continue to “pursue various business acquisitions and joint venture opportunities, in particularly in North America and Europe, as part of its ongoing strategy to grow its business in key areas.”

For more information, Flight Centre Limited should contact the Shareholder Helpline on 1300 661 679.


 
Source = e-Travel Blackboard: J,C
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