Market update - thl/Apollo merger

Tourism Holdings Limited (thl) has announced an update in respect of their proposed merger with Apollo Tourism & Leisure Limited (Apollo).

The Apollo Board's preliminary view is that they intend to unanimously recommend that Apollo shareholders approve the Scheme, and that the Independent Expert intends to conclude that the Scheme is in the best interests of the Apollo shareholders in the absence of a superior proposal.

A court hearing is scheduled for Friday 18th February with the Supreme Court of Queensland, where it is intended that court approval of the final Scheme Booklet is obtained.

thl will provide an update once the process is complete.