STL 0.00% $1.90 stargroup limited

External Administration, page-3

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    This is from GMY Target statement announced 3rd November 2017.

    God knows how much STL owes creditors.

    Contract risk
    Goldfields Money’s business and operations are reliant on various
    agreements and undertakings with third parties. If Goldfields Money is
    unable to satisfy the conditions of these agreements and undertakings, or if
    it defaults in the performance of its obligations under them, its business and
    operations may be adversely affected. Further, if the third parties default in
    the performance of their obligations under the agreements and
    undertakings, Goldfields Money may be adversely affected. In particular, as
    at the date of this Target’s Statement, the shares in Stargroup Limited (being
    the owner of Star Payment Systems Pty Ltd, with which Goldfields Money
    has a cash convenience agreement and which owes amounts of
    approximately $400,000 to the Company)
    are currently suspended from
    trading on the ASX pending a restructuring of its debt4. An inability to realise
    payment of the amounts owed by Star Payment Systems Pty Ltd, or for the
    4 Source: Stargroup Ltd ASX Announcement dated 19 October 2017.
    32
    contract to continue in its current form, may have an adverse effect on the​
    Company’s financial position, particularly during the current financial year.
 
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Currently unlisted public company.

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