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SPEEDCAST INTERNATIONAL LIMITED(SDA)

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ASX, Legal & CGT Status

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(updated at weekends)

Former (or subsequent) names

 

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Our website ranking of SDA: rating 2
(2 out of 5)
COMPANY WEBSITE:

 

REGISTRY:

Link Market Services, Rhodes Corporate Park, 1A Homebush Bay Drive, Rhodes NSW 2138

Tel : +61 1300 554 474
Fax : +61 2 9287 0303
RegistryWebsite RegistryEmail

Company details

ISIN: AU000000SDA9
Address: Unit 4F, Level 1 Lakes Business Park 12 Lord Street Botany NSW 2019
Tel:  + 61 2 9531 7555 Fax: + 61 2 9531 8391

Date first listed: 12/08/2014
Company Secretary: Peter Myers, Dominic Gyngell
Sector: Telecommunication Services Industry Group: XTJ
Activities: Satellite network service provider

News & Events

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OFX Transferring Money Internationally to Free

Speedcast prepares for final restructuring steps. Speedcast designates Centerbridge Partners as Plan Sponsor following plan sponsor selection process.

30/11/2020

Speedcast Sells Primary Maritime Customer Contracts to Inmarsat. Transfer includes Fleet Xpress, FleetBroadband, and Fleet One service contracts within the commercial maritime sector.

16/11/2020

Speedcast Managed Services employees, assets and equipment to transfer to NBN Co. Speedcast will continue to work as a Retail Service Provider to deliver NBN Co's Business Satellite Service.

02/11/2020

Speedcast files plan of reorganisation and disclosure statement outlining clear path to emergence from Chapter 11. Terms include a $500 million equity investment and a reduction in secured debt of $634 million.

12/10/2020

Speedcast has filed a motion seeking court approval to replace its DIP financing. The US$285m refinanced DIP facility, funded by Centerbridge Partners, is an increase of US$100m over the company's previous DIP financing. The new DIP financing would equip Speedcast to continue its normal-course of operations, including serving customers and supporting business continuity while the company progresses negotiations with its largest lenders. ï‚· Speedcast remains committed to working with its customers and suppliers to ensure continuity of their critical telecommunications services.

15/09/2020

Speedcast has received recapitalisation proposals from Black Diamond Capital Management and Centerbridge Partners. Speedcast is continuing to evaluate both proposals to maximise value for all creditors and certainty of outcome for all stakeholders in order to expeditiously conclude its recapitalisation.

01/09/2020

Speedcast has received a US$395m equity commitment to complete chapter 11 recapitalisation. Plan subject to confirmation through the Bankruptcy Court. Provides for cash payments to holders of secured claims and certain unsecured trade creditors. Speedcast remains committed to working with its customers and suppliers through this unprecedented period to ensure continuity of their critical telecommunications services.

13/08/2020

Shareholders in this company should consider crystallising a capital loss in 2020/21 by selling their worthless shares, which they can achieve online by entering transaction details here. While this usually makes good economic sense, we recommend you seek professional advice before buying or selling securities, your accountant is probably the best person.

13/08/2020

US Bankruptcy Court enters order establishing deadlines for filing proofs of claim in chapter 11 cases. The deadline, or "General Bar Date," is 6 August 2020 at 5.00pm (prevailing Central Time) for all creditors (other than governmental units).

08/07/2020

S&P Dow Jones Indices announced today the changes in the S&P/ASX indices, effective at the open of trading on June 22, 2020. At this rebalance, Speedcast International LimitedSpeedcast International LimitedSpeedcast International Limitedentire S&P/ASX index hierarchy is reviewed, including the All Ordinaries. S&P/ASX 300 Index "“ Effective at the Open on June 22, 2020 - removal - Speedcast International Limited.

12/06/2020

Speedcast Australia Pty Limited, one of Speedcast's group companies, has been granted relief from its obligations to report to members and lodge reports by the Australian Securities and Investments Commission.

09/06/2020

Speedcast has been granted an extension of time to hold its annual general meeting for the financial year ended 31 December 2019 (2020 AGM). The Australian Securities and Investments Commission (ASIC) has granted the extension until one month after the day Speedcast lodges its FY19 audited financial reports.

02/06/2020

Speedcast has been granted additional relief from the obligation to lodge an audited financial report for the year ended 31 December 2019 (FY19). Speedcast has further been issued with relief from the obligation to lodge future half-year and full-year reports during the deferral period.

18/05/2020

US Bankruptcy Court makes order restricting certain trades in the Company's shares.

05/05/2020

Speedcast has been granted an additional two week's relief from the obligation to lodge an audited financial report for the year ended 31 December 2019 (FY19).

01/05/2020

Speedcast requests that the trading suspension remains in place until the later of such time that: Speedcast is able to provide audited 2019 Results to the market; and the Chapter 11 Restructuring process is completed.

24/04/2020

Speedcast to recapitalise its balance sheet, through a voluntary process under chapter 11 of the US Bankruptcy Code. Commitment for up to US$90 Million in Debtor-in-Possession Financing will support ordinary course of business operations. The Company expects to honour customer and employee commitments worldwide, and to pay suppliers in the normal course of business for all goods and services from today forward. Speedcast remains committed to working with its customers and suppliers through this unprecedented period to ensure continuity of their critical telecommunications services.

23/04/2020

Forbearance Agreement with lender group extended to 24 April 2020. Speedcast remains committed to working with its customers and suppliers through this unprecedented period to ensure continuity of their critical telecommunications services.

20/04/2020

Speedcast has signed a Forbearance Agreement with its lender group in relation to certain obligations due 31 March 2020, and a potential covenant breach for the period to 31 December 2019. Speedcast continues to progress discussions with its lender group for an interim funding package, as part of an overall restructuring of the Company's balance sheet. Speedcast remains committed to working with its customers and suppliers through this unprecedented period to ensure continuity of their critical telecommunications services.

02/04/2020

Speedcast has been granted one month's relief from the obligation to lodge an audited financial report for the year ended 31 December 2019 (FY19)

01/04/2020

Speedcast has today released its 2019 Results, however notes that pwc's audit of the Company's 2019 Results has not yet been completed. pwc and Speedcast will continue to work to complete the audit as soon as possible. As advised in Speedcast's business update of 18 March 2020, the Company continues to hold discussions with its lenders and advisors in respect of a potential long-term recapitalisation of the business. Given the above matters, Speedcast requests that the trading suspension remain in place until Speedcast is able to provide audited 2019 Results to the market.

30/03/2020

The company lodges its Appendix 4E and FY2019 Unaudited Financial Statements.

30/03/2020

The company lodges its FY2019 Preliminary Financial Report and Appendix 4E.

30/03/2020

The company provides a business update. The Board's extensive review of the FY19 result is progressing. FY20 performance has been affected by the heightened uncertainty surrounding the coronavirus, particularly within the Cruise segment. Additional funding is being sought to provide the opportunity to engage in meaningful discussions with the company's lending group and suppliers as part of an overall longer-term recapitalisation of the business. Potential sale of non-core assets continue to be pursued. Speedcast continues to operate as close to normal as possible.

18/03/2020

Speedcast requests that the suspension remain in place until the earlier of Speedcast making the announcement in relation to its financial results for the year ended 31 December 2019 and the commencement of trading on 30 March 2020.

13/03/2020

Speedcast requests that the suspension remain in place until the earlier of Speedcast making the announcement in relation to its Preliminary Financial Report and Appendix 4E for the year ended 31 December 2019 and the commencement of trading on 13 March 2020.

27/02/2020

Speedcast requests that the suspension remain in place until the earlier of Speedcast making the announcement in relation to its financial results for the year ened 31 December 2019 or the commencement of trading on 27 February 2020.

10/02/2020

The securities of Speedcast International Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of SDA, pending the release of an announcement regarding its financial results for the year ended 31 December 2019.

05/02/2020

listed entity carried for record purposes only

12/08/2014

 

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    Click here for free access to this company's:
    ASX, Legal & CGT Status

    Directors' on-market share transactions (last 5)

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    Purchases Sales

    DATEDIRECTORNUMBERPRICEAMOUNT
    05/09/2019Michael Malone85,000$1.175$99,841
    02/09/2019Stephe Wilks100,000$0.800$80,000
    09/08/2019PJ Beylier100,000$1.745$174,509
    18/07/2019Peter Jackson80,000$1.800$144,000
    29/05/2019John Mackay6,085$4.120$25,070

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Stephe WilksChairman27/08/2019
    Joe SpytekPresident27/09/2019
    Sebastien LehnherrCOO02/01/2019
    Jennifer GrigelCOO01/01/2020
    Keith Jimmie JohnsonCOO01/12/2017
    Peter MyersCFO04/11/2019
    Grant FergusonIndependent Director14/07/2014
    Peter JacksonNon Exec Director14/07/2014
    Michael MaloneDirector14/07/2014

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Peter ShaperCEO27/09/201901/09/2020
    PJ BeylierCEO14/07/201401/02/2020
    Clive CuthellCFO09/04/201831/12/2019
    John MackayNon Exec Director14/07/201430/09/2019
    Caroline van ScheltingaIndependent Director11/04/201827/09/2019
    Edward Sippel Director14/07/201431/12/2018
    Michael BerkNon Exec Director01/09/201217/05/2018
    Ian BaldwinCFO28/11/201409/04/2018
    David KaganCOO01/03/201701/12/2017

    Date of first appointment, title may have changed.