Join our daily newsletter At The Bell to receive exclusive market insights
- Telco company Pentanet (5GG) renewes site licence agreements with Axicom for a further 10 years
- Previous agreements with Axicom related to a specified area on an Axicom telecommunications tower in WA
- Under the new agreement, Pentanet may install and operate its telecommunication equipment using a bigger leased area on the tower and will pay monthly rental fees
- Pentanet says the agreements allows it to “leverage more value from our network” to increase its capabilities and capital efficiency, and deliver a better customer experience
- Company shares are down 3.03 per cent, trading at 32 cents just before market close
Telco company Pentanet (5GG) has renewed site licence agreements with Axicom for 10 years.
Axicom is an Australian business that provides and manages wireless infrastructure. It has nearly 1860 towers across the country, with over 110 towers in Perth and 180 across Western Australia.
The previous site licence agreements, signed in 2018 or later, were in relation to a specified area on an Axicom telecommunications tower located in the Perth or Greater Perth metropolitan area.
The new agreement gives Pentanet permission to install and operate its telecommunication equipment using an increased leased area on the tower.
The renewal agreements start from July 1, 2022 and will be in place for 10 years with an option to extend by a further five years.
Pentanet will pay monthly rental fees under each site licence agreement.
Axicom CEO Cameron Evans said the company is pleased to support Pentanet’s “innovative” deployment of fixed wireless services to Perth customers.
Pentanet Managing Director Stephen Cornish said the agreement will assist with Pentanet’s growth plans and will enable neXus and 5G products to be rolled out.
“In addition, the agreement will allow us to leverage more value from our network, which will allow for a material uplift in the capability of our network to deliver a better customer experience and increase capital efficiency,” Mr Cornish said.
Company shares were down 3.03 per cent, trading at 32 cents just before market close.
