Mixed results for APN

APN chairman Peter Cosgrove has told investors there are no plans to revisit the proposed capital raising that led to a boardroom exodus in February, while the media group reported a mixed performance for the March quarter. He told the AGM that reducing the company's $450 million debt remained a priority.

By InvestSMART · 3 May 2013

By InvestSMART ·
3 May 2013

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Frequently Asked Questions about this Article…

Who is APN's chairman and what did he tell investors?

APN's chairman is Peter Cosgrove, and he told investors there are no plans to revisit the proposed capital raising that prompted upheaval earlier in the year.

Was there a boardroom exodus at APN, and what triggered it?

Yes — the article says a proposed capital raising led to a boardroom exodus in February.

Is APN planning another capital raising after the February turmoil?

According to the chairman at the AGM, APN has no plans to revisit the proposed capital raising that caused the February boardroom departures.

How did APN perform in the March quarter?

The media group reported a mixed performance for the March quarter; the article does not provide further financial details.

What did APN say about its debt position?

APN said reducing the company's $450 million debt remains a priority, as confirmed by the chairman at the AGM.

What was discussed at APN's AGM regarding strategy and priorities?

At the AGM, Peter Cosgrove emphasised there are no plans to revisit the proposed capital raising and reiterated that cutting the company's $450 million debt is a priority.

When did the events described in the article take place (boardroom exodus and March quarter update)?

The boardroom exodus occurred in February, and the company reported its mixed March quarter performance in the March quarter update mentioned in the article.

What are the key takeaways for investors from the APN update in the article?

Key takeaways are: APN’s chairman Peter Cosgrove says there are no plans to revisit the proposed capital raising that caused a February boardroom exodus, the group reported a mixed March quarter, and reducing the company's $450 million debt remains a stated priority.