Web Travel Group Limited · ASX:WEB
Web Travel — Webjet — Merger or Acquisition (December 2012)
16 slides from Web Travel's merger presentation, Dec 12, 2012
Slide 1: Acquisition of Zuji
For personal use only ACQUISITION OF ZUJI John Guscic Managing Director Robert Turner Chief Financial Officer 12 December 2012 0
Slide 2: Important notice and disclaimer
Important notice and disclaimer For personal use only IMPORTANT: You must read the following before continuing. This presentation has been prepared by Webjet Limited (ABN 68 002 013 612) (“Company”). Summary information This presentation contains summary information about the Company and its subsidi
Slide 3: Important notice and disclaimer (cont'd)
Important notice and disclaimer (cont’d) For personal use only Financial data All dollar values are in Australian dollars ($ or A$) and financial data is presented as at or for the year ended 30 June 2012 unless stated otherwise. Future performance This presentation contains certain “forward-looking
Slide 4: Important notice and disclaimer (cont'd)
Important notice and disclaimer (cont’d) For personal use only This presentation does not constitute an offer to sell, or the solicitation of an offer to buy, any securities in the United States or to, or for the account or benefit of, any ‘U.S. person’ (as defined in Regulation S under the U.S. Sec
Slide 5: Transaction overview
Transaction overview For personal use only • Webjet has entered into a binding agreement to purchase Zuji from Travelocity for US$25 million cash − As part of the acquisition, Webjet will incur ~$5 million in transaction, transition and restructuring costs • Zuji was founded in 2002 and has grown to
Slide 6: Transaction overview (cont'd)
Transaction overview (cont’d) For personal use only • Headline purchase price of US$25 million to be paid in cash • In addition, Webjet will incur ~$5 million in transaction, transition and restructuring Purchase price costs • Vendor to fund cash for working capital requirements • Represents a 4.6x
Slide 7: Overview of Zuji
Overview of Zuji For personal use only Highlights Comprehensive product offering • Leading multi-market Asian OTA, primarily serving Hong Singapore Hong Kong Australia Kong, Singapore and Australia Flights − #1 OTA in Hong Kong (36% market share) and Singapore (45%) online air ticket markets,
Slide 8: Overview of Zuji (cont'd)
Overview of Zuji (cont’d) Zuji’s strong online air ticket market share is primarily driven by its high brand awareness For personal use only Singapore Hong Kong Australia(3) Observations Air market by country(1) • Zuji is the OTA air market leader in Singapore and Hong Kong with 45% and 36% of the o
Slide 9: Strategic rationale for acquisition
Strategic rationale for acquisition The transaction will facilitate the execution of Webjet’s existing strategy to be Australia’s leading For personal use only OTA and grow in Asian markets 1 Obtain online leadership position in important Asian travel and leisure markets • Zuji is the leading OTA in
Slide 10: Expected financial impact
Expected financial impact For personal use only The acquisition of Zuji will diversify Webjet’s earnings across the Asia Pacific region and further develop its product offering Impact on revenue Pre acquisition(1) Post acquisition(1) Other By geography 2% Asia 18% Australia & NZ Australia & NZ 98% 8
Slide 11: Webjet's intentions for Zuji
Webjet’s intentions for Zuji For personal use only • Zuji will continue to function under the same brand name within the expanded Webjet Group • Zuji’s business will be progressively migrated to Webjet’s IT infrastructure platform • Webjet will focus on several key areas of Zuji’s business in order
Slide 12: Capital raising overview
Capital raising overview For personal use only • Placement of $25 million Placement size • ~6.9 million new Webjet shares (“New Shares”), or 9.8% of current issued capital • Fixed offer price of $3.60 per New Share, representing: Placement offer price − 6.0% discount to last close on 11 December 201
Slide 13: Indicative capital raising timetable
Indicative capital raising timetable For personal use only Key Dates – Placement Bookbuild opens (10.00am) 12 December 2012 Bookbuild closes 12 December 2012 Webjet shares recommence trading 13 December 2012 Settlement of placement shares 19 December 2012 Allotment and trading of placement shares 20
Slide 14: Foreign selling restrictions
Foreign selling restrictions For personal use only International Offer Restrictions This document does not constitute an offer of new ordinary shares (“New Shares”) of the Company in any jurisdiction in which it would be unlawful. New Shares may not be offered or sold in any country outside Australi
Slide 15: Foreign selling restrictions (cont'd)
Foreign selling restrictions (cont’d) For personal use only Hong Kong WARNING: This document has not been, and will not be, registered as a prospectus under the Companies Ordinance (Cap. 32) of Hong Kong (the “Companies Ordinance”), nor has it been authorised by the Securities and Futures Commission
Slide 16: Foreign selling restrictions (cont'd)
Foreign selling restrictions (cont’d) For personal use only Switzerland The New Shares may not be publicly offered in Switzerland and will not be listed on the SIX Swiss Exchange (“SIX”) or on any other stock exchange or regulated trading facility in Switzerland. This document has been prepared with