Qantas Completes Share Purchase Plan Offer
Sydney, 17 March 2009
Qantas announced today that it had completed a Share Purchase Plan (SPP) offer to retail investors.
The SPP allowed eligible shareholders to purchase a maximum of A$10,000 of new Qantas shares. The offer closed on 11 March 2009.
The offer raised A$26 million at a price of A$1.51 per share, which represented the volume weighted average price of Qantas shares traded on the ASX during the five days up to and including 13 March 2009.
The Chief Executive Officer of Qantas, Mr Alan Joyce, said the offer followed the completion of an institutional placement of A$500 million of shares in February.
"This Share Purchase Plan was designed to provide retail shareholders with an opportunity to subscribe for up to A$10,000 of new ordinary shares, free of brokerage costs, given they were unable to participate in the institutional placement," Mr Joyce said.
Mr Joyce said the proceeds from the institutional placement and SPP will be will be used to enhance Qantas' financial flexibility and:
* support the Qantas Group's fleet renewal program;
* increase diversity of funding;
* reduce net debt; and
* support Qantas' investment grade credit rating.
Issued by Qantas Corporate Communication (3902)