Stargroup

Perth-based unlisted ATM provider Stargroup is set to be bought out for an undisclosed amount by ASX-listed iCash Payment Systems, after iCash announced today it has signed a memorandum of understanding for the acquisition.

ATM entreprenuer Todd Zani is back in business after an eight-month hiatus, and he’s brought with him a new style of machine that could be a game-changer for the banking sector.

Perth-based ATM machine operator Stargroup expects to return to the black after acquiring 109 ATMs from Cash Plus Australia for $6.5 million in cash and shares.

Taejin Kim has resigned as a non-executive director of Stargroup. Mr Kim had joined the board of Stargroup in 2015. 

Perth-based ATM machine supplier Stargroup has expanded its network with the acquisition of CashmyATM in a scrip and cash deal worth $4.5 million.

Ross Cotton has resigned as non-executive director of Ausnet Financial Services to focus on other business commitments.

ATM operator Stargroup has been placed in the hands of insolvency firm KordaMentha after the loss-making company was unable to complete a restructure of its $9.1 million debt.

Mark Hohnen has retired as non-executive director of Salt Lake Potash after serving 7 years on the board, including 4 years as chair.Rebecca Moore has retired as non-executive director of Truscott Mining Corporation. She will be replaced by Dr Ewan Smith.

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Sir Peter Westmacott has been appointed non-executive director of Family Zone Cyber Safety. Sir Peter is a former British ambassador to the USA, France and Turkey.