April 1 (Reuters) - Webjet Ltd (WEB) :
- ANNOUNCES A $275 MILLION EQUITY RAISING-WEB.AX
- UNDERTAKING AN INSTITUTIONAL PLACEMENT AND ACCELERATED PRO-RATA, NON-RENOUNCEABLE ENTITLEMENT OFFER TO RAISE A MINIMUM OF $275 MILLION
- PROCEEDS EXPECTED TO BE SUFFICIENT TO PROVIDE FOR OPERATING COSTS AND CAPITAL EXPENDITURE THROUGH TO END OF 2020
- ENTITLEMENT OFFER AT AN OFFER PRICE OF A$1.70 PER NEW SHARE.
- INITIAL COST REDUCTION PROGRAM IS ALREADY BEING IMPLEMENTED WITH FURTHER COST REDUCTIONS AVAILABLE IF REQUIRED
- REDUCED BOARD & EXECUTIVE REMUNERATION WITH MANAGING DIRECTOR REDUCED SALARY BY 60% FOR CALENDAR YEAR 2020 AND RECEIVING NO BONUS FOR FY20
- BUSINESS INITIATIVES ARE EXPECTED TO RESULT IN CASH FLOW SAVINGS OF C.$13 MILLION PER MONTH
- TOTAL REDUNDANCIES OF OVER 440
- IMPLEMENTED MAJORITY OF REMAINING STAFF MOVING TO 4 WORKING DAYS PER WEEK
- ANNOUNCES CLOSURE OF ONLINE REPUBLIC CRUISE AND SUSPENSION OF WEBJET EXCLUSIVES
- IMPLEMENTED RENEGOTIATION OF CERTAIN OPERATIONAL AND TECHNOLOGY CONTRACTS
- PROCEEDS TO BE USED TO STRENGTHEN BALANCE SHEET DUE TO CONTINUED IMPACT OF COVID-19, ASSOCIATED GOVERNMENT RESTRICTIONS IMPACTING TRAVEL GLOBALLY
- INITIATIVES ARE EXPECTED TO RESULT IN CASH FLOW SAVINGS OF C.$13 MILLION PER MONTH
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Last
$4.30 |
Change
0.040(0.94%) |
Mkt cap ! $1.553B | |||
| Open | High | Low | Value | Volume |
| $4.26 | $4.31 | $4.24 | $16.91M | 3.959M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 932 | $4.29 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.31 | 2000 | 1 |
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| Last trade - 16.10pm 12/08/2025 (20 minute delay) ? |
| WEB (ASX) Chart |