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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 · 3 May 2013
By ·
3 May 2013
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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.
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Frequently Asked Questions about this Article…

Peter Cosgrove told investors there are no plans to revisit the proposed capital raising that prompted a boardroom exodus in February.

The article says the proposed capital raising led to a boardroom exodus in February, but it does not provide further details about the reasons behind individual departures.

The media group reported a mixed performance for the March quarter, according to the article.

Yes. Peter Cosgrove made these comments to investors at APN’s annual general meeting (AGM).

Yes. Cosgrove told the AGM that reducing the company's $450 million debt remained a priority.

The article states there are no plans to revisit the previously proposed capital raising. It does not specify whether APN will pursue any other capital raising to reduce the $450 million debt.

Key takeaways from the article are: APN reported a mixed March quarter, the boardroom exodus followed a proposed capital raising in February, management currently has no plans to revisit that capital raising, and reducing the $450 million debt is a stated priority. Investors should watch for future company updates for details on how management will address the debt and performance.

No. The article confirms debt reduction is a priority but does not outline any specific measures or plans for reducing the $450 million debt.