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Event-Driven

<ul><li>Key hurdles have been cleared for Ten Network Holdings to launch the previously announced AUD 0.15 per share issue to Foxtel (513 million shares equating to 14.2% ownership) and existing shareholders (513 million shares via an entitlement offer).</li><li>While other regulatory approvals are still pending, including the Foreign Investment Review Board, we do not envisage any resistance.</li><li>As a result, Ten Network is closing in on getting AUD 154 million&mdash;a much needed capital injection for a company with a net debt load of AUD 92 million and currently having difficulty covering interest costs from cash flow.</li></ul>Analyst: Brian HanPlease login to read the full report.

Key hurdles have been cleared for Ten Network Holdings to launch the previously announced AUD 0.15 per share issue to Foxtel (513 million shares equating to 14.2% ownership) and existing shareholders (513 million shares via an entitlement offer).While other regulatory approvals are still pending, including the Foreign Investment Review Board, we do not envisage any resistance.As a result, Ten Network is closing in on getting AUD 154 million&mdash;a much needed capital injection for a company with a net debt load of AUD 92 million and currently having difficulty covering interest costs from cash flow.Analyst: Brian HanPlease login to read the full report.

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