WOTIF SHAREHOLDERS APPROVE TAKEOVER

WOTIF.COM Holdings Limited (ASX: WTF) shareholders have voted in favour of Expedia’s $703 million takeover of the company.

The resolution to approve the scheme, which was proposed on September 5, was favoured by 94.85 per cent of company shareholders.

99.93 per cent of votes were cast in favour of the resolution.

The Supreme Court of Queensland will pass down its final verdict to WTF (CEO Scott Blume pictured) on October 14, and the company will be removed from the ASX at end of trade on October 15 if the acquisition is approved.

Subject to court approval, WTF shareholders will receive $3.06 per share to be paid on the scheme implementation date of October 27 and a 24c fully franked special dividend per WTF share to be paid on the dividend payment date of October 20.

Therefore, shareholders will receive cash value of $3.30 per share.

WTF entered a trading halt this morning before the announcement.

The company’s shares are trading up 0.61 per cent at $3.30.