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ComTel Corporation Limited (ASX:CMO) Operating And Financial Review For 6 Months To 31 December 2008
ComTel Corporation Limited (ASX:CMO)(PINK:CMMEF) The consolidated entity earnings before interest, tax, depreciation, amortisation and impairment (EBITDA) for the six months to 31 December 2008 was A$2,665,710.
The Board of ComTel Corporation Limited (ASX:CMO)(PINK:CMMEF) is pleased to advise that the Company has paid $7.9 million due under the Empowered Communications acquisition agreements. This payment was funded from the net proceeds of the $9.1 million rights issue which was successfully completed on 12 December 2008. In addition, the A$0.9 million balance of the $1.75 million short term bridging loan was repaid to Co-Investor Capital Partners Pty Limited.
The Directors of ComTel Corporation Limited (ASX:CMO)(PINK:CMMEF) wish to provide further information on the Company's two core businesses (Media and MVNO operations) and outlook for the year ending 30 June 2009.
The Directors of ComTel Corporation Limited (ASX:CMO)(PINK:CMMEF) are pleased to announce that the company has reached agreement with Co-Investor Capital Partners Pty Ltd (Co- Investor) whereby Co-Investor will, subject to certain conditions being met, refinance ComTel's existing senior debt, take a placement of new ordinary shares, and underwrite a proposed rights issue. Co-Investor (www.co-investor.net) is a Sydney-based active fund manager in ASX and NZX listed small caps.
ComTel Corporation Limited (ASX:CMO) today launched the country's first advertising subsidised mobile phone service ahead of the anticipated surge in mobile advertising growth in Australia.
The Board of CommodiTel Ltd (ASX: CMO) is pleased to advise of the Company's activities during the quarter ended 31st March 2006.
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