Virgin reveals share plan

Virgin reveals share plan
By admin


Virgin Australia will give its shareholders an in specie dividend of $0.000001 per share in its new international arm, Virgin International Holdings (VAIH).

The move follows board and shareholder approval of the new structure that will see the creation of a new unlisted entity, VAIH. All conditions of the proposal have been either satisfied or waived, the airline said.
Splitting its domestic and international divisions will enable Virgin to seek further overseas investment in the domestic business while keeping its international arm compliant with the Air Navigation Act which limits foreign investment of international flying to 49%. 

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