Ten shares suspended for fund raising

Tim Burrowes

December 5, 2012 12:53

Ten’s shares have been placed in a trading halt as the company prepares for a capital raising “and other activities”.

According to an announcement to the ASX, the troubled TV network wants the trading halt to be in place until Friday.

The company is due to hold its AGM in Sydney tomorrow.

Prior to the trading halt, Ten’s shares were priced at 32.5c, valuing the company at $467m.

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Tim Burrowes

Tim Burrowes is the publisher of Mumbrella and Unmade. He co-founded Mumbrella in 2008 and sister title Unmade in 2021. He's worked in the UK, Middle East, Asia & Australia and has specialised in writing about the communications world for the last 25 years. He wrote the book Media Unmade, published in 2021, and became the presenter of MediaLand on ABC Radio National in 2025.

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2 COMMENTS

GetReal 5 Dec 12

Another one? Crikey!
Dilute Dilute.

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Gordon 6 Dec 12

Oh please.. “A company usually holds a fund raising when it is concerned that it may not have enough operating capital to meet its obligations, or is looking to make an acquisition that can’t be funded from its existing funds.”

such flowery language.. why cant you just say :

A company usually has a fund raising when it has run out of cash to pay for things.

That’s the truth.. otherwise there’s be no need to raise funds!

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