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PACIFIC STAR NETWORK LIMITED (PNW)

Listed on ASX

SHARE PRICES

(updated at weekends)

Former (or subsequent) names

Shareholder links

Our website ranking of PNW: rating 3
(3 out of 5)
COMPANY WEBSITE:

 

REGISTRY:

Computershare, Yarra Falls, 452 Johnston Street, Abbotsford VIC 3067

Tel : +61 (0)3 9415 4000 or 1300 850 505 (within Australia)
Fax : +61 3 9473 2500
RegistryWebsite RegistryEmail

Company details

ISIN: AU000000PNW8
Address: 473 - 479 Swan Street, RICHMOND, VIC, AUSTRALIA, 3121
Tel:  (03) 8420 1116 Fax: (03) 9421 5383

Date first listed: 28/11/2000
Company Secretary: Jodie Simm
Sector: Media Industry Group: XDJ
Activities: Radio broadcasting company with commercial broadcasting license ownership, 1116 amplitude modulation and 1370 amplitude modulation, and radio broadcasting services for radio 3MP, lease rental income from the leasing of the 1116 amplitude modulation broadc

The suspension of trading in the securities of Pacific Star Network Limited will be lifted immediately following the release by PNW of an announcement regarding the extension of its debt facility.

01/05/2020

The company has extended its existing $15.0 million debt facility with its existing financier. The facility will provide an additional $13.5 million of debt funding predominantly for working capital purposes. The debt facility extension has been credit approved with final documentation being prepared. PNW expects to have the facility available by 11 March 2020. The combined $28.5 million of debt facilities expire on 31 August 2021. PNW had fully drawn its existing $15.0 million debt facility as of 30 April 2020. Working capital requirements have been supported by operating cash flows and equity raised at the time of the Crocmedia merger. PNW has signed an agreement to acquire the Spirit 621AM radio broadcasting licence1 in Southwest/Bunbury, Western Australia. PNW is pleased to announce its launch of SENTrack, Australia's first independent racing, harness and greyhound radio racing service. SENTrack will offer racing fans previews, analysis, insights and reviews of key races across the country. In response to COVID-19 impacts, PNW has: increased its available working capital; reduced its workforce, worked with employees to implement pay reductions, reduce hours and use leave balances and been assisted by the JobKeeper Payment scheme; been working with landlords on rent relief and deferrals; ceased all capital expenditure plans; and been working with key stakeholders to agree on fair compensation for contracted costs not able to be serviced and potential revisions or terminations of those contracts. PNW anticipates the end of its voluntary suspension and reinstatement to quotation of its securities on ASX from the resumption of trading on Friday, 1 May 2020.

01/05/2020

In accordance with the terms of the 2018 Pacific Star Network Performance Rights Plan, the following performance rights have been forfeited as a result of an employee resigning from the Company: 2018 - 685,017 - 30 June 2021 (vesting date).

30/04/2020

PNW is expecting formal approval on funding from its financiers during that period. PNW is also continuing discussions with clients on forward bookings and suppliers, landlords and other stakeholders about their arrangements with PNW. The continued uncertainty surrounding the AFL and NRL seasons is also impacting the ability to inform the market. PNW will provide an update of activities prior to the commencement of normal trading on Friday, 1 May 2020.

17/04/2020

The company requests a continuation of its voluntary suspensio for a further two weeks as it continues to assess the impact of the COVID-19 pandemic on its business. PNW is reviewing its staffing structure and working with its clients, sporting bodies, financier and suppliers to reach a position to inform the market. PNW will provide an update of activities prior to the commencement of normal trading on Friday, 17 April 2020. In the meantime, PNW withdraws its previously provided guidance in respect of its financial performance for FY20.

03/04/2020

65,650,301 ordinary shares issued as part of the Placement completed on March 2018, will be released from Voluntary Escrow on 16 April 2020 consistent with the terms of the underlying Voluntary Escrow Deeds. Pacific Star notes that the Voluntary Escrow shares were allotted on completion of the Placement in March 2018 and the requisite Appendix 3B was released at the time of the allotment.

02/04/2020

The securities of Pacific Star Network Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of PNW, pending the release of an announcement regarding the effects of COVID-19 on its business.

20/03/2020

The securities of Pacific Star Network Limited will be reinstated to quotation immediately, following the release of an announcement by the Company.

08/01/2018

The company has reached agreement with Crocmedia to merge via the acquisition of 100% of the issued shares in Crocmedia in exchange for PNW shares.

08/01/2018

The securities of Pacific Star Network Limited will be suspended from quotation immediately, at the request of the Company, pending the release of an announcement by the Company.

05/01/2018

The suspension of trading in the securities of Pacific Star Network Limited (the "Company") will be lifted immediately following receipt of an announcement by the Company regarding the impact of the appointment of administrators to a joint venture entity controlled by the Company. Security Code: PNW

12/03/2012

Following the appointment of Administrators to Melbourne Radio Operations Pty Ltd (MRO) (a joint venture entity controlled by Pacific Star Network Limited (PNW) and Macquarie Radio Network Limited (MRN)) on 2 March 2012, the Company has reviewed the financial impact of this development and wishes to advise the following: 1. The company" half year report released on 23 February 2012 provided full year EBITDA guidance of $1.3-$1.5 million; 2. The appointment of Stephen Longely and Nicholas Martin of PPB Advisory as Administrators of MRO led to the closure of Melbourne Talk Radio (MTR) radio station at 5pm on 2 March 2012. Consequently the appointment of Administrators to MRO and the cessation of MTR is likely to limit the Company" ability to recover costs from that entity in the future. In light of this, directors advise a revised full year EBITDA guidance of $0.9-$1.0 million for 2012.

09/03/2012

the Directors of the joint venture company Melbourne Radio Operations Pty Limited (MTR), owned by Macquarie Radio Network Ltd (MRN) and Pacific Star Network Ltd (PNW), have today appointed administrators

02/03/2012

securities suspended pending an announcement

02/03/2012

we understand that on or about this date the company consolidated its shares 1 for 10

28/04/2011

shares reinstated to quotation

20/01/2006

the company announces that it has successfully placed $2 million of new equity - the share placement is being conducted in two tranches, the first being placement of 38,464,500 new shares at 4 cents per share to sophisticated investors raising $1,538,580, the second of 11,535,500 new shares at 4 cents raising $461,420 will be issued subject to shareholder approval being received for proposed issuance to a director related entity (of 9,820,000 shares representing $392,800) - it is anticipated that a meeting of shareholders will be held for this purpose in mid February 2006 - the company is in discussion with the ASX regarding their requirements for the lifting of the current share trading suspension and expects to meet the ASX requirements and have the shares requoted later this month

06/01/2006

lodges chairman's address to shareholders

30/11/2005

announces the completion of a senior executive team restructure

11/11/2005

lodges first quarter cash flow report (to 30 September 2005) which reflects a deficit at operating level of $1060K

31/10/2005

applies for the quotation of 27.6m shares

31/10/2005

at the General Meeting on 10 October 2005, shareholders ratified the allotment and issue of 22,368,743 shares at an issue price of $0.04 per share - approval was given for the Company to allot and issue up to 15,900,000 shares to Rosh Hagiborim Pty Ltd an entity associated with Director Mr Ronald David Hall - approval was also given for the Company to allot and issue up to 2,100,000 shares to Quattrovest Pty Ltd an entity associated with Director Mr Peter Quattro

14/10/2005

Mr Richard Szental tendered his resignation as a director of the company with effect from the 1st October 2005

03/10/2005

releases 2005 annual report

23/09/2005

issues Notice of Meeting for a General Meeting to be held on 10 October 2005 to consider the issue of shares to related parties

20/09/2005

lodges preliminary final report

13/09/2005

company announces that it has successfully placed $2 million of new equity - the share placement is being conducted in two tranches - the first being placement of 32 million new shares at 4 cents per share to sophisticated investors raising $1.28 million - the second tranche is 18 million new shares at 4 cents to entities associated with directors Mr. Ron Hall and Mr. Peter Quattro raising $ 0.72 million - the second tranche will be subject to shareholder approval

17/08/2005

company announces that it has entered into agreements with the Voluntary Administrator of Sports Entertainment Network to purchase the Melbourne based business of that company - Mr George Buschmann has been appointed to oversee the integration of the business with that of 3MP

06/06/2005

the directors of Sports Entertainment Network Pty Ltd (SEN) have today appointed Mr Sal Algeri and Mr Simon Wallace-Smith of Deloitte as voluntary administrators - Pacific Star Network Limited leases the 1116 AM commercial broadcasting license to SEN

31/05/2005

shares suspended from quotation pending release of an announcement

30/05/2005

name changed from Data and Commerce Limited

06/08/2004

ASX Announcements (courtesy of ASX)

 

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    Directors' on-market share transactions (last 5)

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    Purchases Sales

    DATEDIRECTORNUMBERPRICEAMOUNT
    13/05/2016Ronald Hall972,333$0.180$176,945
    13/05/2016Andrew Moffatt500,000$0.180$90,108
    29/04/2016Colm O'Brien50,000$0.201$10,040
    27/04/2012Ronald Hall5,000$0.200$1,000
    24/04/2012Ronald Hall15,000$0.200$3,000

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Craig ColemanNon Exec Chairman15/11/2017
    Craig HutchisonManaging Director, CEO29/03/2018
    Barrie QuickCEO01/02/2007
    Jodie SimmCOO29/03/2018
    Stephen SweeneyCFO23/02/2007
    Colm O'BrienIndependent Director10/09/2015
    Andrew MoffatNon Exec Director15/11/2017
    Chris GiannopoulosExecutive Director29/03/2018
    Ronald HallAlternate Director13/02/2002

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    John E. BertrandNon Exec Chairman24/11/201615/11/2017
    Michael NettlefoldNon Exec Director25/08/201715/11/2017
    Gary PertNon Exec Director01/07/200815/11/2017
    Peter QuattroNon Exec Director25/04/200315/11/2017
    Andrew MoffattNon Exec Chairman01/09/200424/11/2016
    George PapadopoulosCEO19/01/201611/05/2016
    Michelle GuthrieNon Exec Director01/05/201324/03/2016

    Date of first appointment, title may have changed.