In a public filing on Monday morning, ASX-listed Superloop Ltd (ASX: SLC) provided an in-depth company update to investors.
Superloop is an Australian fibre and wireless network owner seeking to connect businesses and individuals to data services throughout the Asia Pacific region.
In its ASX announcement, Superloop said that its Founder Bevan Slattery has transitioned from CEO to Executive Director and Drew Kelton has commenced in the role of CEO.
Superloop also revealed that Ashleigh Loughnan has been appointed the head of HR and Adrian Martin will become VP of International Carrier Sales.
Jason Ashton, the co-founder of the wireless internet provider BigAir, which was acquired by Superloop in 2016; will step back from his executive role and take up a board position. In addition, Superloop’s GM of Sales and Marketing, Matthew Hollis, will step down from his role and remain as a director.
Company update
Superloop said around 75% of total cable from INDIGO West and Central is being loaded on to a vessel in France. The remaining 25% will be loaded on to a cable freighter in early July and set sail to Singapore before being loaded on to a vessel in August. Both marine operations are expected to be finished in December 2018.
Superloop also confirmed the national rollout of its Superbb activation. Superbb is expected to activate at all 121 of the National Broadband Network’s (NBN) points of interconnect by the end of the year. Also, Superloop said it has completed NBN business-to-business acceptance.
Did you know Warren Buffett was a millionaire in his late 20’s but ‘only’ worth $300m at his 50th birthday? Now he is a $US84 billion investor.
That means he made 99% of his wealth after turning 50! How does a 50-year-old do that? Download the free Aussie investing ebook, “What Buffett’s Investing Checklist Can Teach Aussie Investors“ when you join the free Rask Group Investor Club Newsletter. You’ll get insights into the 4 steps Buffett uses to pick his investments.
Click here to join The Rask Group’s Investor Club Newsletter and Download The Ebook!
