Macquarie Radio Network will announce its first annual financial results this morning (Friday 2 Sept) in Sydney.

MRN Non-Executive Chairman Max Donnelly will present the results, along with CEO/ Director Angela Clark, and Non-Executive Director Maureen Plavsic.

Macquarie Radio Network issued 3,160,000 Shares when the company was floated in April this year, with selected staff and institutions were invited to apply.

John Singleton is still the biggest shareholder in the company through ‘John Singleton Promotions,’ which owns 67% of issued shares. A number of investment institutions are the next biggest share holders. CEO Angela Clarke has 1.4 million shares in her name and sits at 7th largest holder in the register of shareholders.

At the time of the launch Chairman Max Donnelly told radioinfo:

“The spread of shares was mostly taken up by staff, who were also able to nominate one other person. Shares were also offered to friends of the board, existing shareholders and people connected with the station.

“It’s a very small pool of shares, but everyone who was offered shares in the float, took them.

“The float leaves the company well positioned to take advantage of upcoming changes to Australia’s strict media laws.”

The company’s prospectus showed revenue in the 2004/05 financial year to be $43.03 million, and forecast $39.5 million revenue for this financial year. Earnings before interest and taxes for 2004/05 were $8 million and the forecast for this financial year was $6.9 million.

These first results will show whether the prospectus forecasts were correct.