At the extraordinary general meeting of the company today the
resolution approving the issue of shares relating to the acquisition
was duly passed.
(Caption: Brent Hoberman,
Chief Executive Officer of lastminute.com)
Application has been made to the UK Listing Authority and London
Stock Exchange for the listing of 34,645,088 new ordinary shares. It
is expected that completion of the acquisition will occur on Thursday
29th August. 27,999,940 new ordinary shares will be issued on that
date with the majority of the balance of the new ordinary shares
being issued on or before 28 February 2003, following the exercise of
outstanding Travelprice.com warrants.
, Chief Executive Officer of lastminute.com said:
“We are delighted that shareholders have approved this transaction.
We understand that Travelprice.com is performing well ahead of our
expectations during the current quarter. Total transaction value is
over 50% ahead of last year for the key months of July and August. We
look forward to the business contributing to lastminute.com`s
European growth in the future.”
Related stories on ITN:
(22/07/2002) lastminute.com plc Proposed acquisition of Travelprice.com SA