All properties focus on water efficiency in kitchens without compromising on productivity or guest experience. Aligned to this plan, The Star Entertainment Group has a target to reduce potable water consumption by 30% on an intensity basis by 2023 against base year FY2013.
A water audit conducted across The Star Sydney’s back of house kitchens and restaurants identified that two of the property’s busiest kitchens operated older model, water-cooled woks rather than more efficient ‘waterless’, or air-cooled options.
Food Quarter and Sovereign Resorts at The Star Sydney are both high volume kitchens, operating between 17 and 24 hours per day, delivering on average more than 2,000 covers per day. Water-cooled woks require significant amounts of water when in operation. Water flows continuously across the deck of the wok burners to moderate the enormous amount of heat generated whilst cooking. Additional water is used to clean the woks after each meal is prepared. These applications combined require water-cooled woks to use between 5,000L and 7,000L of water per day, depending on time of use.
The introduction of knee levers to operate the wok cleaning tap, or ‘laundry arm’, eliminates the constant water flow usually associated with this function. Following the water audit, The Star Sydney subsequently replaced the remaining five water-cooled woks with knee levered ‘waterless’ woks, and retrofitted existing waterless woks with knee levers.
These combined efficiency improvements are estimated to deliver:
The Star Entertainment Group’s sustainability targets are supported by our Executive Chef and Director of Culinary, by encouraging kitchens and restaurants to save on water consumption while continuing to provide an excellent guest service experience.
The Star Gold Coast has installed waterless woks gradually since January 2016, completing installations across the entire property in January 2018 with the new Sovereign Resorts kitchen.
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.