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Comms Group Ltd (ASX:CCG)

ALERT: Price-sensitive ASX Announcement for CCG
Current share price for CCG : $0.081 -0.004 (-4.71%)+
Announcement
Release
1 Jul 2026 8:17AM
Price at Release
$0.085
Full Release
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Summary
Comms Group Ltd announced the divestment of its subsidiary, onPlatinum, to Thinkex Holding Pty Ltd for $30 million. This strategic move involves an upfront payment with additional funds held in escrow and aims to utilize the proceeds for debt reduction and shareholder returns. The company forecasts a revenue range of $74 million to $75 million for FY26, with an expected EBITDA of $8.0 million to $8.5 million. The settlement of this transaction is expected in the first quarter of FY27, further aiding financial restructuring. Focus remains on integrating TasmaNet and consolidating telco networks, maintaining growth in Communications & Collaboration and Global & Wholesale Unified Communications.
Key Points
  • Comms Group Ltd announced the sale of its subsidiary, onPlatinum, to Thinkex Holding Pty Ltd for $30 million.
  • The transaction involves an upfront payment of $28.5 million, with $1.5 million held in escrow for 12 months.
  • Proceeds from the sale will be used to reduce net debt, strengthen the balance sheet, and potentially distribute capital returns to shareholders.
  • Comms Group forecasts FY26 revenue to be in the range of $74 million to $75 million, with an underlying EBITDA between $8.0 million to $8.5 million.
  • The company is committed to generating strong shareholder returns and focuses on Communications & Collaboration services and Global & Wholesale Unified Communications.
  • The divestment is expected to be settled in Q1 FY27, with further financial updates to follow post-settlement.
  • TasmaNet integration and telco network consolidation are on track, aligning with previous guidance.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.