Helloworld director Andrew Finch resigns

Helloworld director Andrew Finch resigns

Helloworld non-executive director Andrew Finch has resigned, following Qantas’ divestment in the travel agency.

Andrew Finch general counsel and group executive of Qantas

Finch, who is general counsel and group executive of Qantas, advised Helloworld of his resignation with immediate effect following the airline’s announcement that it has sold its remaining shareholding in the company.

“Andrew has provided outstanding service as a director of Helloworld for the past six years through a very challenging period and has decided to step down as director,” said Garry Hounsell, chairman of Helloworld.

Qantas offloaded its 12.4 per cent shareholding in Helloworld for approximately $33 million yesterday, at a price of $1.72 per share, which will be recognised in its FY23 accounts.

The shares were sold via a fully underwritten book build with institutional shareholders.

The sale significantly increased Helloworld’s free float, according to its CEO Andrew Burnes.

“We also welcome to the register a range of institutions who participated in the book build,” he said.

“Many of these are existing shareholders in the business however there are some new shareholders, most of whom we have presented to over recent months and it is exciting to see their belief in the business and the services we offer the travelling public in Australia, New Zealand and Fiji.”

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