Flight Centre Travel Group announces amendment to founding shareholders deed

    Flight Centre Travel Group (FTL) reported (19-Jun-2018) an amendment to the ‘Shareholders Deed of Pre-Emption’ between its five founding shareholders to remove the two smallest founding shareholders, Friday Investments (Goldburg family) and Trinity Holdings (Greive family). These families collectively hold 2.2% ownership. FLT’s largest founding shareholders – the Turner, Harris and James families – collectively control 42.2% of FTL through the Gainsdale, Gehar and James Management Services entities and will remain party to the deed. Their shareholdings are largely unaffected. The shareholders deed grants each founding shareholder certain pre-emptive rights in relation to the other founders’ FLT shares. This restrict the founders from disposing of their shares unless those shares are first offered to the other founders on a pro-rata basis. [more – original PR]