Helloworld shares resume trading on ASX

Sydney, Australia - March 5, 2014: An office worker and taxi going past are reflected in the glass display of a trading screen at the Australian Stock Exchange on Bridge Street.

After its shares were embarrassingly suspended on the ASX just yesterday due to a “technical oversight”, Helloworld Travel has managed to rectify the issue.

In a statement issued this morning, the ASX announced the suspension of trading in Helloworld shares had been lifted, having granted the travel company a case-specific waiver allowing an extension to lodge its 30 June 2020 audited accounts until no later than 15 October 2020.

“Helloworld lodged its Appendix 4E on 31 August 2020 without expressly satisfying the conditions for the ASX class waiver issued on 16 June 2020, ‘Extended Reporting and Lodgment Deadlines’, while establishing its intention to use the class waiver by confirming the date intended to lodge its audited financial statements,” the ASX statement read.

“Although the company did not explicitly satisfy all the conditions of the ASX class waiver, in essence, it met the requirements substantively and in spirit, and a waiver from Listing Rule 4.5.1 was granted to put the company in the same position as if it has the benefit of the ASX class waiver until 15 October 2020.”

Helloworld welcomed the resumption of trading on the ASX, and said it was not currently aware of any material update to the unaudited FY20 results it lodged at the end of August.

“At 30 September 2020, HLO had a cash balance of $178 million, including circa $100 million of unrestricted cash, with an additional $9 million of headroom on existing facilities,” the company said in a statement.

“This is sufficient to sustain the business through a prolonged period of disruption to the global travel industry based on our current and projected monthly nett cash burn of circa $2 million (unaudited) per month.”

Helloworld said it will provide the market with a Q1 trading update later this month, and noted its “strong liquidity and a significantly lower cost base across all key business operations”.

“We are confident we can continue to adapt the business to the circumstances that confront us and take advantage of opportunities as they arise and emerge from this crisis in a very strong position,” it said.

“HLO’s corporate business is trading at levels around 35 per cent on the previous year, our wholesale and retail businesses are trading at around 10 per cent of previous volumes and our retail agency networks remain strong with agents showing a tremendous amount of resilience. Further details will be provided in our trading update.”


Featured image source: iStock/kokkai

Latest News

  • Luxury

TravelManagers explore luxury trends at Signature Travel Network Global Conference

Representatives from TravelManagers Australia have concluded four days of collaboration, learning and networking with luxury travel brands at Signature Travel Network’s 2024 Annual Conference, which took place in Las Vegas. The annual event, which brings together members of Signature’s luxury travel advisor network, partners, travel media and experts, centred this year on “Leveraging the Signature […]

  • Aviation

Refurbed Adelaide Qantas Club opens doors to upgraded features

Qantas opened the doors to its upgraded Adelaide Qantas Club today, just in time for the busy holiday period to provide customers travelling through the city of churches with an improved experience. The contemporary space has been designed to celebrate the beauty of the South Australian landscape and features customised furniture by local designers Agostino […]

  • Cruise
  • Cruise Lines

PONANT opens Kimberley 2026 season with early-bird savings

PONANT has officially launched its 2026 Kimberley season, with travellers able to choose from 16 departures aboard luxury small expedition vessels Le Soléal or Le Jacques Cartier, with up to 30 per cent savings for early-bird bookings. Guests will experience spectacular waterfalls, ancient First Nation rock art and cultures, breathtaking whale-watching, and thrilling mangrove Zodiac […]

  • Travel Agents

ETC Cluster: Great Journeys New Zealand & TruTravels

Agents are invited to join Evolution Travel Collective for their next cluster update with the latest news from Great Journeys New Zealand & TruTravels. Michelle Daniels introduces the new Great Journeys New Zealand Scenic Plus product as well as a range of new tours & packages available on the beautiful railways of New Zealand. With […]

  • Cruise

CLIA shares new 2023 Global Cruise Industry Economic Impact Study

Cruise Lines International Association (CLIA) has shared the highlights from the association’s new 2023 Global Economic Impact Study at the annual CLIA Cruise Forward conference. The study revealed the highest-ever global economic impact from cruise tourism and reaffirmed that 2023 surpassed 2019 as the benchmark year for cruise industry performance. It also confirmed the cruise […]

  • Road & Rail

London Transport Commissioner takes an insider look at Sydney Metro

London’s Commissioner of Transport, Andy Lord, has toured the new Sydney Metro yesterday, hosted by the Tourism & Transport Forum. “We’re beyond delighted to welcome Commissioner Andy Lord to the fabulous city of Sydney,” TTF CEO Margy Osmond said. “As a long-standing representative of transport, and now the most senior transport official in London, Andy […]