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BRIEF-Virgin Australia Holdings Confirms There Is No Current Intention To Privatise Group

Published 28/02/2018, 09:21 am
© Reuters. BRIEF-Virgin Australia Holdings Confirms There Is No Current Intention To Privatise Group
VAH
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Feb 28 (Reuters) - Virgin Australia Holdings Ltd VAH.AX :

* CONFIRMED THERE IS NO CURRENT INTENTION TO PRIVATISE GROUP

* WILL OFFER AN OPT-OUT FACILITY TO BUY-BACK UNMARKETABLE PARCELS OF SHARES FROM UNMARKETABLE PARCEL HOLDERS AT $0.30 PER SHARE

* EXPECTS TOTAL COST OF UNMARKETABLE PARCEL BUY-BACK FACILITY UP TO ABOUT $5 MILLION

* NO PORTION OF PROCEEDS THAT PARTICIPATING SHAREHOLDERS RECEIVE FROM FACILITY TO BE TREATED AS DIVIDEND FOR TAX PURPOSES

* ENGAGING WITH AUSTRALIAN TAXATION OFFICE TO CONFIRM UNDERSTANDING OF POTENTIAL TAX CONSEQUENCES FOR PARTICIPATING SHAREHOLDERS

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