TUI Travel PLC begins trading on the London Stock Exchange
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London, 3 September 2007
TUI Travel PLC is pleased to announce that the merger of First Choice Holidays PLC and the Tourism Division of TUI AG has been successfully completed. As a result, First Choice Holidays PLC’s listing was cancelled at 8.00am today and the ordinary shares of the new combined group, TUI Travel PLC, have been admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange’s market for listed securities.
As previously announced, a detailed review of all the businesses will be undertaken over the coming months to help the Group identify enhanced opportunities in the businesses and to build on its stated strategy. In addition, cost efficiencies identified will be actioned during this period and beyond. It is the Group’s intention to present the results of the review in January 2008.
Commenting on the completion of the merger, Peter Long, Chief Executive TUI Travel PLC said:
“The creation of TUI Travel PLC, one of the world’s leading leisure travel companies, represents real growth opportunities for us as a Group. Not only will our shareholders benefit from efficiencies but we are also well positioned to deliver strong organic and acquisition led growth.”
Dr Michael Frenzel, Chairman of TUI Travel PLC added:
“TUI Travel has tremendous opportunities ahead of it. We will bring together some of the best known brands in leisure travel coupled with excellent management expertise. TUI Travel will be actively shaping the future of the tourism business.”
The PLC website for TUI Travel PLC can be found at www.tuitravelplc.com
As at 3 September 2007, TUI Travel PLC has 1,118 million shares in issue and will trade
under the ticker symbol TT.L
TUI Travel:
- has over 200 brands worldwide
- has 30 million customers from more than 20 source markets.
- has a fleet of 155 aircraft in Europe and nearly 3,600 retail shops in UK, Ireland and Continental Europe
- employs 48,000 colleagues worldwide
Additional information:
TUI AG financial year end: 31 December
TUI Travel PLC financial year end: 30 September
Full consolidation of TUI Travel PLC in TUI AG accounts with effect from 1 September 2007
TUI AG holds 51% of outstanding TUI Travel PLC shares
Contact:
Björn Beroleit, phone +49 (0)511 – 566 1310
Nicola Gehrt, phone +49 (0)511 – 566 1435