TD breaking news – Burnes and Qantas sell down Helloworld stakes

TD breaking news – Burnes and Qantas sell down Helloworld stakes

Sale seen as opportunity to broaden shareholder base.

Helloworld ceo Andrew Burnes and executive director Cinzia Burnes have sold 2,500,000 shares in the company for $5.50 each, netting the pair proceeds of just under $14 million. 

Another major shareholder, Qantas Airways Limited, has sold 2,000,000 shares for the same price. 

A company statement just released said that after the recent full year results announcement there had been a number of enquiries from investors seeking liquidity opportunities. 

CEO Andrew Burnes said the sales has been undertaken in a series of block trades and had reduced the stake in Helloworld held by its top three shareholders from 70% to 64.5%. 

Interests associated with the Burnes’ now hold just over 31% of the company while the Qantas stake has reduced to 15.4%.

More details in tomorrow’s  issue of Travel Daily.  

 

Source: traveldaily