Wednesday 12th August 2020
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Sky Network Television Ltd (SKT) has delivered results in line with the FY20 guidance given on 21 May 2020, with unaudited Revenue, EBITDA, NPAT and CAPEX results all being achieved within the defined range (subject to the completion of year end audit processes and assessment of the carrying value of goodwill).
Sky will release its results for the year ended 30 June 2020 on Thursday 10 September 2020.
In doing so, Sky is relying on the class waiver from NZX Listing Rule 3.5.1 granted by NZX on 3 April 2020 and the class waiver from certain rules in Chapter 4 of the ASX Listing Rules granted by ASX on 7 May 2020. Sky also expects to release its 2020 annual report on Thursday 10 September 2020 and therefore shall not be relying upon the NZX and ASX class waivers in relation to the same.
Webcast and teleconference details will be made available shortly.
Successful completion of amended Banking Facility
Sky has successfully completed the negotiation and signing of the amended and restated $200 million Banking Facility, with increased flexibility, an extended term to July 2023 and no step-down in the Facility limit.
Sky has used the funds from the recent Capital Raise to pay down all bank debt and holds cash of $118 million as at 12 August 2020.
Sky notes the Government’s announcement last evening of a brief return to Alert Level 3 in Auckland (and Alert Level 2 for the rest for the country) from 12-14 August. As an essential service, Sky confirms that it has robust plans in place to continue to deliver services to customers, with the majority of staff able to immediately work from home and ‘essential crew’ operating safely from Sky sites.
Source: Sky Network Television Ltd (SKT)
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