- Telecommunications company Pentanet (5GG) renews site license agreements with Axicom for another 10 years
- Previous agreements with Axicom related to a specified area on an Axicom telecommunications tower in WA
- Under the new agreement, Pentanet can install and operate its telecommunications equipment using a larger leased area on the tower and will pay monthly rental fees.
- Pentanet says the deals allow it to “draw more value from our network” to increase its capabilities and capital efficiency, and provide a better customer experience
- Shares of the company are down 3.03%, trading at 32 cents just before the market close
Telecommunications company Pentanet (5GG) has renewed site license agreements with Axicom for 10 years.
Axicom is an Australian company that provides and manages wireless infrastructure. It has nearly 1,860 towers across the country, with over 110 towers in Perth and 180 in Western Australia.
Previous site license agreements, signed in 2018 or later, were for 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 telecommunications equipment using increased leased area on the tower.
Renewal agreements begin July 1, 2022 and will be in place for 10 years with an option to extend for another five years.
Pentanet will pay monthly rental fees under each site license agreement.
Axicom CEO Cameron Evans said the company was delighted to support Pentanet’s “innovative” rollout of fixed wireless services to Perth customers.
Pentanet chief executive Stephen Cornish said the deal will help Pentanet’s growth plans and enable the rollout of neXus and 5G products.
“In addition, the agreement will enable us to extract more value from our network, which will significantly increase our network’s ability to deliver a better customer experience and increase capital efficiency,” Mr. Cornish.
Shares of the company fell 3.03%, trading at 32 cents just before the market close.