April 27 (Reuters) - Ten Network Holdings Ltd (TEN)
- hy revenue from continuing operations $ 339.735 million versus $348.5 million a year ago
- in december 2013 group established a $200m revolving cash advance facility
- H1 loss for period attributable to members $232.191 million versus profit of $13.375 million a year ago
- group is currently seeking to secure an amended or new borrowing facility with extended maturity and expanded size
- size of new facility to be requested by group has potential to be approximately $250m
- there is a material uncertainty that may cast significant doubt on group's ability to continue as a going concern
- it may be unable to realise its assets and discharge its liabilities in normal course of business.
- there are ongoing discussions with shareholder guarantors and their advisors to consider necessary financing for group
- transformation program is board approved and well developed with material revenue and cost saving opportunities being identified
- discussions have commenced with a view to renegotiating material programming contracts
- company expects challenging advertising revenue market conditions to continue.
- "absent any relief in television licence fees, this will result in an underlying ebitda loss for full 2017 finanical year of between $25m and $30m."
