Apollo and Tourism Holdings finalise merger

Apollo and Tourism Holdings finalise merger

Apollo Tourism & Leisure (ATL) has announced the completion of the merger ATL and Tourism Holdings Limited (THL).

THL and its entities now hold all of the issued shares in ATL and the divestment of assets to Jucy, which is a condition subsequent to the scheme of arrangement.

Each ATL shareholder have been issued one THL share for every 3.210987 ATL shares held as of 7pm 23 November.

Apollo said that it’s expected that THL Consideration Shares will begin trading on ASX on 2 December on a normal settlement basis. These shares will also be able to be traded on the NZX.

Alongside the implementation of the scheme of agreement, Sophie Mitchell, Rob Baker and Brett Heading have resigned from the board of ATL with Luke Trouchet and Karl Trouchet remaing as directors of ATL.

Grant Webster has been appointed as a director of ATL and Sophie Mitchell, Rob Baker and Luke Trouchet have been appointed to the board of THL.

ATL will apply for removal from the official list of the ASX, which is expected to occur from close of trade on 1 December 2022.

The merger follows the the Australian Competition and Consumer Commission (ACCC) announcing in September it would not oppose the merger, provided Apollo divest a large proportion of its newest motorhome fleet.

The move will see the creation of over 30 new jobs and increase the number of Jucy rental offices around Australia to 11 – allowing them to enter a new segment of the market and marking a significant turnaround in the company’s fortunes since the onset of the pandemic.

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