Helloworld Travel Limited has put forward a non-binding proposal to acquire all outstanding shares of Webjet Group Limited that it does not already own through a scheme of arrangement.

Helloworld’s offer of A$0.90 per share for Webjet’s stocks represents a strong value proposition for the shareholders. This proposed share price includes:

• A 31% premium over Webjet’s closing share price of A$0.685 from May 7.
• A 54% increase over the one-month VWAP of A$0.58 prior to May 7.
• A 19% boost from Webjet’s last close of A$0.755 as of November 18.

Andrew Burnes AO, the Chief Executive of Helloworld, stated: “Our proposal represents compelling value for Webjet shareholders. A merger between Webjet and Helloworld would forge a formidable player within the evolving travel bookings sector.”

Additionally, Burnes emphasized their commitment to collaborating with Webjet’s Board and management to facilitate the transaction with minimal disruption.

Helloworld believes this proposal is an attractive opportunity for Webjet’s shareholders to gain a premium offer and full cash consideration. Furthermore, both companies aim to be logical partners, providing a strong foundation to achieve long-term goals together.

The proposal requires specific conditions to be met, which include satisfactory completion of due diligence, a scheme implementation agreement with no adverse changes, and a unanimous recommendation from the Webjet Board for their shareholders to support this proposal unless a superior offer arises.