Qantas announces off market buy back of up to 5.1% of shares

Qantas announced (22-Aug-2019) plans to commence an off market share buyback tender of up to 79.7 million shares, approximately 5.1% of Qantas shares on issue, key details include:

• The buyback price will be determined on 04-Nov-2019, with a discount to the market price;
• If the shareholder holds more than 100 shares, the shareholder must tender a minimum of 100 shares in aggregate. The shareholder may tender different parcels of shares at different buy back rates;
• If the shareholder holds less than 100 shares, the shareholder must tender all shares to participate in the buy back scheme;
• The Australian Taxation Office indicated, for Australian tax purposes, the sale proceeds of the shares for entities other than companies will generally be taken to be AUD1.19 (USD0.76) plus the amount by which the CGT value exceeds the buy back price. [more - original PR]