🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

BRIEF-Qantas Airways updates on proposed capital management initiative

Published 20/08/2015, 08:55 am
© Reuters.  BRIEF-Qantas Airways updates on proposed capital management initiative
QAN
-

Aug 20 (Reuters) - Qantas Airways Ltd QAN.AX :

* Qantas Group proposed capital management initiative QAN.AX

* Proposed to distribute surplus capital to shareholders in the form of a $505 million capital return.

* Says capital management initiative will be funded by qantas' surplus capital

* Proposed 23c per share cash distribution will be combined with a related share consolidation

* Says no adverse tax consequences are expected as a result of the capital management initiative

* Consolidation ratio is 0.939 and, if approved, will reduce number of shares on issue by approximately 6.1%"

* Intends seeking class ruling from ato to confirm qantas' understanding of likely income tax consequences for certain shareholders

* Source text for Eikon ID:nASX13Hvd0

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.