Australia's Airtasker rises on early settlement of media partnership notes
BUZZ-Australia's Airtasker rises on early settlement of media partnership notes ** Airtasker ART.AX shares climb 2.4% to A$0.215, marking their strongest uptick since June 19.
** Marketplace platform provider strikes an agreement to settle early the media partnership notes held by units of oOh!media and ARN Media
** ART opted for an early cash settlement of both notes and accrued interest, paying a combined ~A$10.82 million (~$7.45 million) and securing an A$300,000 saving - about 27% of total interest due
** On June 25 and July 4, 2024, ART issued two-year, A$5 million media partnership notes to oOh!media and ARN, respectively, each carrying a 5.8% coupon and offering the option to convert into shares at a 10% discount to the 30-day volume-weighted average price or settle in cash at maturity or earlier
** ART down 37.7% YTD
($1 = 1.4524 Australian dollars)
(Reporting by Kumar Tanishk in Bengaluru)
((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))
Recent news on ARN Media
See all newsAustralia's Airtasker rises on early settlement of media partnership notes
Brief: ARN Media Settles Legal Proceedings With Kyle Sandilands
Australia's ARN Media settles legal dispute with former radio host Kyle Sandilands (updated)
ARN Media at 4-week high on settling legal proceedings with Kyle Sandilands
Australia's ARN Media settles legal dispute with former radio host Kyle Sandilands