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Delisted from ASX 24/11/2017


Former (or subsequent) names


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Our website ranking of TEN: rating 1
(1 out of 5)


Link Market Services, Rhodes Corporate Park, 1A Homebush Bay Drive, Rhodes NSW 2138
Tel : +61 1300 554 474
Fax : +61 2 9287 0303
RegistryWebsite RegistryEmail

Company details

Address: 1 Saunders Street, PYRMONT, NSW, AUSTRALIA, 2009
Tel:  (02) 9650 1010 Fax: (02) 9650 1111

Date first listed: 31/03/1998
Company Secretary: Stuart Thomas, Taryn Morton, Dave Boorman
Sector: Media Industry Group: XDJ
Activities: Commercial television broadcasters, with stations in each of the country's five mainland capital cities
The Australian Tax Office says: Shareholders of TNHL will need to account for a capital gains tax event occurring on the takeover date. It is expected that taxpayers will calculate an amount of capital loss which can be offset against any capital gains arising in the 2018 year. Example: Andrew purchased 1000 TNHL shares in 2012 for $2,120 ($2.12 per share). His brokerage costs were $50, making his cost base $2,170, or $2.14 per share. The receivers and managers of TNHL transferred Andrew's shares to CBS Network Ten BV for no consideration pursuant to the court order. Andrew calculates his capital losses as follows: capital proceeds - $0.00 cost base of the shares - $2,170 capital losses - $2,17012/06/2018
delisted from the close of trading on Friday, 24 November 2017 pursuant to Listing rule 17.11.24/11/2017
we understand all shares in TEN were transferred to CBS International Television Australia for nil consideration following TEN's failure and subsequent administration 24/11/2017
The Deed Administrators provided an undertaking to the Supreme Court of New South Wales that they would not implement the transfer of the shares in Ten to CBS prior to 5pm on Tuesday, 14 November 2017 to allow time for the interested persons who appeared to oppose the s444GA Application to consider their position. No further action has been taken by the interested persons. With the satisfaction of all conditions precedent: all shares in Ten have been transferred to CBS; completion has occurred under the DOCA, meaning Ten is no longer subject to the DOCA; and the receivers and managers have retired.16/11/2017
TEN has applied to ASX to remove TEN from the official list of ASX subject to, and effective following, the transfer of all shares in TEN to CBS under the DOCA. TEN seeks to be removed from the official list because the effect of completion of the share transfer is that there will be no quoted securities in Ten, and TEN will become a wholly-owned subsidiary of CBS Network Ten BV. In these circumstances, there are no consequential implications for Ten or its security holders. 15/11/2017
Justice Black has today delivered judgement in relation to the s444GA Application and has granted leave to the Deed Administrators to transfer the shares in Ten to CBS as provided for in the DOCA. The Deed Administrators have provided an undertaking to the Court that they will not implement the transfer of the shares in Ten to CBS prior to 5pm on Tuesday, 14 November 2017 to allow those interested persons who appeared to oppose the s444GA Application to consider their position. 10/11/2017
On 27 October 2017, Twentieth Century Fox Film Corporation (Australia) Pty Limited issued a letter of termination in respect of the Fox Output License Agreement between Fox and Network Ten Pty Limited. The termination was stated to be effective 6 October 2017.30/10/2017
On 18 October 2017, the Foreign Investment Review Board advised that the Commonwealth has no objection to the acquisition of up to a 100% interest in Ten by CBS Corporation or its wholly owned nominee. 23/10/2017
The s444GA Application was before Justice Black for a further directions hearing on 16 October 2017. Justice Black confirmed the hearing date for the s444GA Application and it remains listed for a hearing commencing at 10am on 31 October 2017 for up to three days with liberty to apply to the Court on one business days' notice specifying the relief sought, including in respect of any application by Mr Du or Mr Gubbay to defer the hearing date with supporting evidence. Supplementary evidence should be filed by 4pm on 23 October 2017. The deed administrators' submissions are to be filed and served by 4pm on 27 October 2017. Any interested person that has filed a Notice of Appearance in the proceedings to file and serve their submissions by 30 October 2017.17/10/2017
The administrators release an explanatory statement that describes the process and provides details on how a shareholder who wishes to make an objection to the share transfer -- all shares in TEN to CBS Australia -- should do so. The explanatory statement includes an independent expert's report which values the equity in TEN. The IER concludes that the equity in TEN has nil value.10/10/2017
On 25 September, the deed administrators filed an originating procses in the Supreme Court of New South Wales seeking orders that the shares in Ten be transferred to CBS International Television Australia. Justice Black ordered that the application be tentatively listed for hearing for 3 days from 31 October 2017. He also ordered that the administrators file and serve on ASIC any evidence on which they propose to rely by 10 October 2017 and noted that the administrators propose to make an independent expert's report by no later than 10 October 2017.27/09/2017
At the second meeting of creditors for the Ten Group Companies, the creditors of each of the Ten Group Companies have resolved that each respective company execute the proposed deed of company arrangement with CBS International Television Australia Pty Limited.19/09/2017
The Administrators of the Ten Group have received a letter from the advisors to Birketu Pty Limited and Illyria Nominees Television Pty Limited as trustee for the Illyria Investment Trust No 4. This is regarding a further DOCA proposal to be put to creditors at the second meeting of creditors.15/09/2017
The company releases a supplemental report to creditors. The second meeting of creditors will now be held at the sydney Harbour Marriott, 30 Pitt Street, Sydney NSW at 11:00am on 19 September 2017.11/09/2017
The Supreme Court of New South Wales indicated that it will shortly make orders to adjourn the second meetings of creditors until 11 am on 19 September 2017. 08/09/2017
The administrators issued their report to creditors ahead of the second meeting of creditors to decide the future of the Ten Group. In the report, the administrators expressed that in their opinion it is in the creditors' interests for the Ten Group to execute the DOCA proposed by CBS. The second meetings of creditors will be held on 12 September 2017 with registration starting from 10am with the meeting commencing at 11.00am. The meeting will be held at Sydney Harbour Marriott, 30 Pitt Street, Sydney NSW 2000.04/09/2017
The administrators and the receivers and managers have progressed the sale and recapitalisation transaction with wholly owned entities of CBS. On 1 September, the refinance component of the transaction was completed, with CBS funding approximately ~A$142.7m million by way of loan, to refinance the secured debt of the Company, including the shareholder guarantor fees. A working capital facility of A$30 million has also been made available as part of the refinance. 04/09/2017
The administrators and the receivers and managers have entered into binding transaction documents with wholly owned entities of CBS Corporation, a NYSE listed corporation. The transaction contemplates an acquisition of the Company by CBS, which will be effected by way of a refinance of existing secured debt arrangements (including shareholder guarantor fees) in full and a DOCA that will be put to creditors at the second creditors meeting. 28/08/2017
Pursuant to Instrument 2015/251 the Company's obligation to report to its members or lodge its annual financial report for the year ended 31 August 2017 is deferred for a period of six months from the commencement of the Administration. The last day of the deferral period is 14 December 2017.24/08/2017
The ACCC has announced that it will not oppose Birketu and Illyria Nominees Television's proposed joint bid to acquire Ten Network Holdings Limited. Birketu, owned by Bruce Gordon, and Illyria, owned by Lachlan Murdoch, propose to each acquire a 50 per cent interest in Ten, and to operate it as a joint venture entity. Mr Gordon and Mr Murdoch have links with a number of media assets in Australia. 24/08/2017
The company issues a response to ASX Query.22/08/2017
On the application of the administrators, the Federal Court of Australia has made orders extending the convening period for the second meeting of creditors for the Ten Group Companies to be convened to midnight on 20 November 2017. The effect of the orders is that the second meeting of creditors for each of the Ten Group Companies can be held at any point up to 27 November 2017, giving 5 business days notice to creditors.18/07/2017
The receivers and managers have appointed Moelis & Co to act as the independent advisor for the sale or recapitalisation of the business and assets of Network Ten. Moelis & Co will assist the Receivers and Managers as they conduct a competitive process to identify a suitable party to purchase or recapitalise the business and assets of Network Ten. 06/07/2017
Christopher Hill, Philip Carter and David McEvoy of PPB Advisory were appointed receivers and managers of Ten Network Holdings Limited and the companies after the close of business on 30 June 2017. The Receivers and Managers have negotiated an amendment and restatement of Ten Network Holdings Limited's existing facility agreement, with continuing support from the shareholder guarantors, in order to secure a $30m funding package, which is available until 31 August 2017. 03/07/2017
The company welcomes the announcement by the Federal Government yesterday that it will abolish license fees payable by Australian commercial free-to-air television and radio broadcasters for the 2016- 17 financial year. The reduction in licence costs for the Company in the 2017 financial year will be in the order of $22 million. 29/06/2017
Beyond International Limited would like to advise that the Company has no financial exposure to Ten Network Holdings Ltd.28/06/2017
Notice is hereby given that Mark Korda, Jenny Nettleton and Jarrod Villani of KordaMentha, were appointed Voluntary Administrators of the Ten Network Holdings Limited.15/06/2017
securities suspended from quotation following the appointment of administrators14/06/2017
we understand that on or about this date the company consolidated its shares 1 for 1025/01/2016
TEN Network and Facebook are in talks about forging a strategic alliance in which the two media companies would share content, audiences and advertising revenue, sources have confirmed. 01/07/2004

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See News & Events above for ATO ruling on capital losses

12/06/2018 07:06:28

Has the Australian Tax Office made a ruling how shareholders can calculate their capital tax losses on their Ten Network holding shares. If so, please let us know where we find the ruling. Thanks

11/06/2018 22:48:50
Directors & Executives, former & current have all dipped there hand in to the cash box of the Ten network.\nonce the the government ratifies the ownership laws in the coming months, watch network ten fall in the hands of private ownership and starts to make lots of money, leaving the small share hold nothing but worthless old stock.\nit happen with Canwest and it will happen again. \n05/07/2017 23:32:04

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    Directors' on-market share transactions (last 5)

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    Purchases Sales

    05/11/2012Brian LongOn market200,000$0.296$59,289
    16/08/2012Dean HawkinsOn market47,500$0.451$21,405
    01/08/2012Paul GleesonOn market625,000$0.484$302,640
    09/12/2010Brian LongOn market70,000$1.485$103,950
    25/10/2010David GordonOn market100,000$1.613$161,280

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    David GordonChairman01/04/2000
    Paul AndersonCEO, COO01/03/2011
    Andrew LancasterNon Exec Director25/07/2016
    Andrew RobbNon Exec Director25/07/2016
    Debbie GoodinNon Exec Director17/08/2016
    Peter TonaghNon Exec Director30/03/2016
    Paul GleesonDirector16/02/1998
    Paul MallamDirector13/12/2010
    John KlepecDirector31/10/2014
    Russel HowcroftExecutive, General Manager01/01/2013

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    Siobhan McKennaNon Exec Director27/06/201215/03/2017
    Brian LongDeputy Chairman, Independent Director01/07/201025/07/2016
    Richard FreudensteinNon Exec Director17/12/201530/03/2016
    Jack CowinDirector03/04/199816/12/2015
    Dean HawkinsDirector01/04/201016/12/2015
    Christine HolgateDirector01/04/201016/12/2015
    Hamish McLennanExecutive Chairman, CEO18/03/201327/07/2015
    Gina RinehartDirector13/12/201031/10/2014
    Lachlan MurdochNon Exec Chairman13/12/201026/03/2014
    James WarburtonCEO, Managing Director01/02/201222/02/2013
    Stephen PartingtonGeneral Counsel01/10/199630/11/2011
    Peter VinerAlternate Director03/04/199802/05/2011
    James PackerNon Exec Director13/12/201002/03/2011
    Nicholas FalloonDirector01/02/200210/12/2010
    John StuddyDirector04/06/199830/06/2010
    Leonard AsperNon Exec Director26/10/200701/10/2009
    Thomas StrikeAlternate Director26/10/200701/10/2009
    Geoffrey LevyNon Exec Director03/04/199825/10/2007
    Irene LeeNon Exec Director13/10/200025/10/2007
    Laurence FreedmanNon Exec Director16/02/199825/10/2007
    Paul HarrisNon Exec Director16/02/199825/10/2007
    Robert MagidNon Exec Director03/04/199825/10/2007
    Brian ShermanNon Exec Director16/02/199825/10/2007
    Barry SechosAlternate Director25/10/2007
    John PescharAlternate Director16/02/199811/09/2007

    Date of first appointment, title may have changed.