The Star Sydney

local landmark for more than 20 years, The Star Sydney is an integral part of the Pyrmont and Darling Harbour community. 

Home to all-luxury suite hotel, The Darling – the only hotel in NSW to be awarded a Forbes 5-Star rating (and recognised for four consecutive years), it also features the award-winning $100-million The Star Event Centre. We’ve played host to major domestic and international acts since 2013, such as the AACTA Awards, the ARIA Awards, and world-renowned musical talents – Coldplay, Ricky Martin, Tina Arena, and Alicia Keys. International nightclub Marquee adds a further musical dimension. 

The Star’s signature dining portfolio boasts some of Australia’s most highly awarded bars and restaurants including Momofuku Seiōbo, the Japanese-inspired Sokyo, famed steakhouse BLACK Bar & Grill, local seafood favourite, Flying Fish and CHUUKA – our first off-property restaurant located on the iconic Jones Bay Wharf. In addition to its signature restaurants, The Star has opened Cucina Porto, a casual Italian dining experience, and Bar Tikram, a Middle Eastern concept – marking the first of several new dining establishments set to open in the near future. 

These projects form part of a $500 million capital works investment program across the property which include upgrades to our hotels, bars and restaurants and entertainment facilities. 

The Star also houses The Sydney Lyric. Opened in 1997, the 2,000-seat theatre has a history of welcoming legendary international performers such as Elton John and Al Pacino as well as hosting World Premieres of Strictly Ballroom the Musical and Dream Lover. With recent foyer and auditorium upgrades in excess of $18 million, this breathable theatre is a truly unique and premium venue. 

In recent years the Sydney Lyric has hosted major musicals including Broadway blockbuster, The Book of Mormon, the Australian Premiere seasons of Beautiful: The Carole King Musical and Matilda the Musical. In 2019 the Sydney Lyric hosted a commercial season of the awarded Australian production Muriel’s Wedding the MusicalIn 2021 the Sydney Lyric will host the Australian Premiere of Hamilton. 

2016 SHARE SALE FACILITIES

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:

  1. registered holders of less than a marketable parcel of shares (i.e. less than $500 worth of shares on the Record Date) (Small Holding Sale Facility); or
  2. registered holders of 5,000 or less shares (but held at least $500 worth of shares) on the Record Date (Voluntary Share Sale Facility).

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:

  • 29 March 2016 (7pm) – Record Date
  • 5 April 2016 – Facility Opened
  • 17 May 2016 (5pm) – Facility Closed
  • 27 May 2016 – Payment of sale proceeds and mailing of payment advices

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:

  • 29 March 2016 (7pm) – Record Date
  • 5 April 2016 – Facility Opened
  • 17 May 2016 (5pm) – Facility Closed
  • 27 May 2016 – Payment of sale proceeds and mailing of payment advices

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.

POST DEMERGER TAX INFORMATION

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.

Click here to download the Tax Calculator
Click here to access information on the Australian Taxation Office website