Share offer announced at OMC now open for applications.
Helloworld has just released the formal prospectus for an offer of up to 768,000 shares in the company, which are being made available for “nil cash consideration” to eligible franchisees.
Applications are accepted from today through until 25 November 2016, with any shares issued under the offer restricted from being traded or transferred until 31 October 2018. Franchisees who are no longer a member of the Helloworld network on that date will forfeit their shares.
“The Scheme underpins the Helloworld Group strategy of rewarding loyalty displayed by Franchisees, and the issue of Shares under the Scheme is intended to facilitate building a stronger member network,” the prospectus states.
The offer represents a maximum of 0.65% of Helloworld’s shares.
More details in tomorrow’s issue of Travel Daily.