Shareholders approve demerger.

Global digital travel organisation Webjet Limited (to be renamed Web Travel Group), has announced its shareholders have approved the demerger of its B2C division at an Extraordinary General Meeting (EGM) held earlier today.

The approved demerger will create two ASX listed companies on 30 September 2024, with leadership positions in their respective industry segments and each with their own distinctive operating profiles, strategies and growth opportunities.

Effective 30 September, the two listed parent companies will be structured as follows:

Web Travel Group 
Webjet Limited will be renamed Web Travel Group Limited (ASX:WEB) and operate global B2B travel marketplace, WebBeds.

Webjet Group 
Webjet Group Limited (ASX:WJL) will operate the B2C businesses of:

• Webjet OTA - Australia & New Zealand’s leading online travel agent (OTA)
• GoSee - a global motorhome and car rental ecommerce site
• Trip Ninja - travel technology business automating complex travel itineraries 

The Webjet Limited Board believes the demerger will position both companies for ongoing success as they pursue their own growth agendas.

Advantages of the Demerger.

• Create two independent and simplified businesses that are simpler, more agile and focused on their respective businesses and customers
• Improve the ability for each business to pursue independent strategic priorities and growth agendas
• Allow each business to adopt tailored capital structures and financial policies appropriate for each businesses’ unique characteristics
• Introduce flexibility for existing and new shareholders to choose their level of investment in Web Travel Group and Webjet Group

As part of the demerger, former Webjet Limited Board member Katrina Barry has taken the reins as Managing Director of the newly formed Webjet Group and Shelley Beasley, who continues her role as Chief Operating Officer of Web Travel Group, will join the Webjet Group Board of Directors.

Webjet Group Limited (ASX:WJL) will commence trading on the Australian Stock Exchange on Monday 23 September 2024.