All tagged Star Group ASX:STL
Financial Technology and ATM company Stargroup Limited has expanded its ATM network to 512 owned machines with the acquisition of a 134 ATM machine network owned by Fast Cash ATMs Australia Pty Ltd. Consideration for the transaction was $4.2 million, which has already been paid as part of a $7.5 million finance facility. Projected annualised revenue for FY18 to increase from $17.9 million to $20.1 million as a result, with projected EBITA for FY18 to increase from $4.7 million to $5.7 million.
Financial Technology and ATM company Stargroup Limited and Goldfields Money have agreed to double the value of their existing Cash Convenience Agreement to $30 million. The new agreement is based on substantial increase in number of ATMs and annualised transactions under Stargroup management following the acquisition of Indue Limited assets. Goldfields Money will continue to populate a network of pre-agreed Stargroup managed ATMs with its excess cash reserves for a period of three-years.
Financial Technology and ATM company Stargroup Limited has successfully executed the Indue Limited acquisition on 5 May 2017. The Company is also pleased to advise that there has been a >30% increase in scale of assets acquired with 2,414 ATMs under management by Indue (previously 1,700) and about 16 million transactions processed per year (previously ~12 million). The vertical integration of the Indue ATM Businesses will also see key operating costs reduce by a further 15% and Stargroup expects to positively revise FY18 forward estimates.
Financial Technology and ATM company Stargroup Limited (ASX: STL) announced that wholly owned subsidiary StarLink Pty Ltd did not settle the acquisition of the Indue Limited Automatic Teller Machine switching, settlement, processing telecommunications and reseller business on March 13 as originally planned. Stargroup is in negotiations with Indue and is committed to completing the transaction as soon as practicable.
Financial Technology and ATM company Stargroup Limited (ASX: STL) has demonstrated continued growth in revenue for the six months to December 31 2016. Stargroup CEO and Chairman Todd Zani said the 1HY17 results reflected a significant improvement in all of the Company’s key divisions, with its ATM network revenues as well as its ATM and EFTPOS product sales revenues at record levels for the period. Stargroup’s EBITDA result was also a 64% improvement on the corresponding period of FY16.
Stargroup Limited (ASX: STL) has extended the completion date of the acquisition of the Indue Limited ATM switching, settlement, processing, telecommunications and reseller business. The sale contract became unconditional on 30 December 2016, with the previously extended completion date of 24 January 2017 now being set on or before 13 March 2017. This is as a result of funding not yet being available from Stargroup’s approved $15 million debt instrument. Stargroup remains committed to completing this transaction.
Stargroup Limited (Stargroup) (ASX : STL) is pleased to provide a copy of the investor presentation by its CEO and Executive Chairman, Todd Zani, to be presented to a number of institutional investors in Sydney and Melbourne this week.
Stargroup Limited (ASX: STL) has announced the scheduled settlement of the Indue acquisition did not occur by 24 January as envisaged, however both parties remain committed to the transaction completing. Stargroup will update the market as soon as the transaction is complete.
Stargroup Limited (ASX: STL) has executed all agreements to complete the acquisition of peer ATM & FinTech company Indue Limited on an unconditional basis. Stargroup Executive Chairman Todd Zani met with a number of the group's new customers and has completed exhaustive planning to ensure a smooth transition of services. He said Stargroup had also secured a $15M debt facility from a Sydney-based credit fund to enable this acquisition and further M&A transactions without issuing new capital.
Stargroup has achieved another record quarter of revenue, the 12th record period in a row. There was a 218% improvement in 2016 YTD ATM revenue compared to 2015 YTD ATM revenue. Compared to the September quarter, revenue was up 36%. The Company is on track to pay a maiden fully franked dividend in June 2017.