Stocks of the Hour: Flight Centre, AMP, Family Zone Cyber Safety

Company News

by Lauren Evans

Flight Centre (ASX:FLT) will introduce a Recovery Rights Program for all staff, excluding board members and senior executives. In a one-off response to COVID-19, staff members will be granted share rights if they continue their careers through to the end of 2022, despite government restrictions. Employees are to receive approximately 1.9 million shares in total, at an expected non-cash cost of around $30 million at today's share price. Shares in Flight Centre Travel Group (ASX:FLT) are trading 0.7 per cent higher at $15.15.

Financial giant AMP (ASX:AMP) has made another high-profile recruitment.The $4 billion company has appointed Bendigo and Adelaide’s ex-Managing Director Mike Hirst as an independent non-executive director. Mike nine years of experience at the helm of Bendigo Bank made him an ideal candidate. Shares in AMP (ASX:AMP) are trading 3.02 per cent higher at $1.20

Family Zone Cyber Safety (ASX:FZO) have announced that they have raised $23 million through a placement with sophisticated investors.The placement consisted of 42,990,654 new fully paid ordinary shares at an issue price of $0.535 per share representing a 9.3% discount to the closing price on 22 June. Funding from the placement will be used to integrate a US education provider, Net Ref. The innovative education tool will be used across the United States and Australia. Shares in Fanmily Zone Cyber Safety (ASX:FZO) are trading 5.5 per cent higher at $0.62.

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