helloworld announces share sale by executive directors, Qantas

    Helloworld Travel Limited stated (01-Oct-2018) it has been informed that Andrew Burnes and Cinzia Burnes have each sold 2.5 million shares at AUD5.50 per share and that Qantas Airways Limited has sold two million shares at the same price. Helloworld Travel noted: “Subsequent to the release of the results for FY2018 the Company has received many enquiries from domestic and international investors seeking liquidity opportunities”. Helloworld Travel CEO Andrew Burnes said the sale represented an “opportunity to broaden the shareholder base in HLO and the improved liquidity would help the Company gain inclusion on the ASX300 list in future”. The sales were effected as block trades to several new and current institutional shareholders. Prior to this sale, over 70% of the shares in HLO were held by the top three shareholders and the sale reduces this percentage to 64.5%. The sale represents approximately 11.4% of the total shareholding of the Burnes interests and after the sales Andrew Burnes retains 10.4 million shares, Cinzia Burnes retains 10.1 million shares, the Burnes Group Trust retains 18.5 million shares and Longbush Nominees retains 10,000 shares, a total of 39.0 million shares (31.3 %). The sale represents approximately 9.4% of Qantas’s total shareholding and after the sale Qantas retain 19.2 million shares (15.4%).