Network Ten to raise funds at steep discount

TEN Network Holdings shares have gone into a trading halt as the struggling free-to-air broadcaster prepares to raise new funds.

The trading halt was requested by the company "pending an announcement by Ten in relation to a proposed capital raising and other initiatives", it said in a statement this morning.

According to the AFR, the new shares are to be sold at about 20 cents, a 40 per cent discount to last night's closing price of 32.5 cents.

The board, including chairman Lachlan Murdoch, James Packer, Gina Rinehart and Hungry Jack's owner Jack Cowin are expected to support the raising.

Ten made a full year loss of $12.9 million in fiscal 2012, with revenue down 13.7 per cent as advertisers deserted the network in response to a number of television flops.

 

Read more at Brisbane Times
 


Boondooma fishing comp cancelled due to COVID-19 concerns

Premium Content Boondooma fishing comp cancelled due to COVID-19 concerns

With COVID still at the forefront of everyone's minds, the Boondooma stocking group...

CONFIRMED: Woman dies after horror crash in South Burnett

Premium Content CONFIRMED: Woman dies after horror crash in South Burnett

A young woman has tragically died following a serious crash in the South Burnett.

Rescue helicopter en route to horrific Burnett crash scene

Premium Content Rescue helicopter en route to horrific Burnett crash scene

One patient is critically injured and another two are in serious conditions...