Ten shares hit
Investors have given Ten Network's latest capital raising a thumbs down amid doubts about the struggling broadcaster's ability to reverse its flagging fortunes. Ten shares fell 8? to 24.5? when they emerged from a trading halt on Monday after it completed the first part of its $230 million capital raising to pay down debt.
Mining contractor Macmahon Holdings is poised for a capital raising as it battles to reverse a drop in earnings and tries to cut costs. Trading in Macmahon's shares was halted before an announcement about a possible equity raising and strategy update.
Fund manager Perpetual has named a leader of its restructuring program as its new chief financial officer. Gillian Larkins will replace outgoing CFO Roger Burrows on January 7. She joined Perpetual in October from Westpac.
ANZ pay rise
ANZ will pay its Australian-based staff a 3.5 per cent salary increase for each of the next two years, which includes superannuation contribution increases of 0.5 per cent for both years.