Our goals around destination stewardship include pathways to sequester carbon in ways that also support biodiversity and regional communities.
The Star’s first carbon abatement project explored a land purchase where carbon credits could be generated that created a positive impact on the local flora and fauna. The project goals encompassed additional benefits including biodiversity enhancement, regeneration of land and sustainable agriculture, in turn supporting the company’s employee engagement strategy.
In December 2021, we delivered against this commitment. After detailed analysis and assessments, The Star secured a 174-hectare land parcel near Gympie, Queensland called Corymbia.
At Corymbia, our vision is to create a nature-based farming practice. The farm will support endangered species, sequester carbon and contribute to biodiversity, alongside farming communities.
The initial project will allow us to plant trees, engage our team in regeneration education, and create koala habitat. We continually seek guidance from experts and partners as we progress.
Project – creating offsets and new habitat
In March 2022, The Star finalised registration of an Emissions Reduction Fund (ERF) tree planting project with the Clean Energy Regulator named the ‘Lower Wonga Native Regeneration Project’.
The Star was inspired by the work of Odonata Foundation, whose work in the region enables landholders to work alongside nature. Corymbia aligns with the vision of Odonata, to support private landholders to be part of the threatened species solution.
Odonata’s CEO Sam Marwood said, “Organisations can use their carbon offset priorities as the driver to do something that adds incredible value to the business, people and communities, with no real additional costs.”
“The Star Entertainment Group has demonstrated real dedication to innovatively supporting environment and community, over and above what is required,” he said
“It has been a couple of years of collaborative planning. Along with the strategic and commercial aspects, it’s been outstanding how much engagement there has been on the detailed aspects of the project, like how to select the right trees to attract koalas, how best to help threatened species, improve biodiversity and river health, and work alongside local communities.”
To deliver the carbon credit goal, The Star engaged Ndevr, an environmental and carbon specialist consultancy. Creating our own offsets for a portion of our scope 1 emissions reduces the risks of sourcing all offsets from the market.
Supporting Koala Habitat and Farming Communities
Named after the genus of bloodwood tree found onsite, Corymbia has provided a homestead for a local farming couple to grow their commitment to regenerative farming, demonstrating our support for regional communities.
To measure our impact on biodiversity outcomes, we conducted biodiversity testing across Corymbia using environmental DNA sampling.
This high-tech method involves water sampling across a range of dams and waterways to detect the wildlife that frequent the site. The results at Corymbia showed species of native frogs in addition to some pests including fox and rabbit.
The site reflects other properties in the area, which are relatively low in wildlife.
To understand the impact of planting over 100 hectares of mixed tree native forests, The Star engaged koala experts from the University of Sunshine Coast to conduct assessments of Corymbia and its supporting green corridors.
Using a koala dog to track koala activity, the results showed no koalas onsite, however, they were found within five kilometres of the property. This supports the vision that if mixed native tree vegetation are tailored to the koala diet, Corymbia could provide up to 100 additional hectares of habitat over time.
In FY2023, mixed native tree planting will begin. We are at the beginning of this journey, and partnering with biodiversity experts such as Odonata and native tree regeneration specialises Noosa Landcare has allowed us to understand how we can make a long-term difference.
Corymbia will operate under our values of Ownership, True Teamwork, Welcoming and Doing the Right Thing. Each year we will report on progress against our key workstreams of biodiversity – sustainable agriculture, carbon offsetting and creating community value. We will also meet our requirements and report the progress against our the Lower Wonga Native Regeneration Project.
The Star Entertainment Group announced on 5 April 2016 share sale facilities that provided eligible small shareholders the opportunity to sell their shares without incurring any brokerage or handling costs.
Participation in the separate share sale facilities were open to eligible shareholders whose registered address was in Australia or New Zealand as at 7.00pm (Sydney time) on 29 March 2016 (Record Date) and who were:
On 5 April 2016, eligible shareholders were sent a letter together with a Share Retention Form (for the Small Holding Sale Facility) or a Sale Instruction Form (for the Voluntary Share Sale Facility), and Terms and Conditions for the relevant share sale facility.
Both share sale facilities closed at 5:00pm (Sydney time) on 17 May 2016 (Closing Date).
All participants who had their SGR shares sold under either the Small Holding Sale Facility or the Voluntary Share Sale Facility received the same average price of $5.51 per share, which was calculated by dividing the total proceeds from the sale of all SGR shares sold under the facilities by the total number of SGR shares sold under the facilities.
Payment of the sale proceeds were made to participating shareholders on 27 May 2016 in accordance with their payment instructions as recorded on the share register.
Small Holding Sale Facility
The Small Holding Sale Facility was conducted in accordance with The Star Entertainment Group’s Constitution and the Australian Securities Exchange Listing Rules that enables all listed companies to sell shareholdings valued at less than $500 (Unmarketable Parcel).
Based on a share price of $5.68, being the closing price of The Star Entertainment Group (SGR) shares on the Australian Securities Exchange on the Record Date, an Unmarketable Parcel was any holding of 88 shares or less.
Eligible shareholders who wished to retain their Unmarketable Parcel were required to return a Share Retention Form to the share registry by the Closing Date.
Small Holding Facility Key Dates:
Voluntary Share Sale Facility
The Voluntary Share Sale Facility was conducted in accordance with Class Order CO 08/10 issued by the Australian Securities and Investment Commission.
Eligible shareholders who wished to sell their shares under the Voluntary Share Sale Facility were required to return a Sale Instruction Form by the Closing Date.
Voluntary Holding Facility Key Dates:
For full details of the Small Holding Sale Facility and the Voluntary Share Sale Facility, please see the ASX Announcement dated 5 April 2016 in the News section of our website.
The demerger of The Star Entertainment Group (formerly known as Echo Entertainment Group Limited) from Tabcorp Holdings Limited (Tabcorp) was implemented on 15 June 2011 by way of Scheme of Arrangement pursuant to the Tabcorp Scheme Booklet dated 15 April 2011 (Demerger).
As part of the Demerger, Tabcorp sought a ruling from the Australian Taxation Office on the taxation implications for shareholders. On 29 June 2011, the Australian Taxation Office issued Class Ruling CR 2011/66, in accordance with the application made by Tabcorp. A copy of the Class Ruling CR 2011/66 can be viewed here.
A Tax Calculator is provided below to assist shareholders in calculating the Australian capital gains tax cost base allocation for Tabcorp shares and The Star Entertainment Group shares. The Tax Calculator is a general guide only and does not constitute tax advice. Shareholders should seek advice from an appropriate professional adviser on the tax implications of the Demerger based on their own individual circumstances.