Perpetual Ceases to be Substantial Shareholder of Star Entertainment Group; Star Entertainment Shares Hit All-Time Low

MT Newswires Live

2024-11-05

Star Entertainment Group (ASX:SGR) received notice that investment firm Perpetual (ASX:PPT) has ceased to be a substantial shareholder of the gaming company, according to a Tuesday filing with the Australian bourse.

According to Star Entertainment's constitution, as well as deals made with the Liquor and Gaming New South Wales and the Queensland Office of Liquor and Gaming Regulation, it cannot have one person or entity have more than 10% voting power, the filing said.

Star Entertainment Group's shares were up over 2% in recent Tuesday trade but earlier hit an all-time low, while Perpetual's shares slipped almost 1%.

Price (AUD): $0.22, Change: $+0.01, Percent Change: +2.38%

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