Photon Group relegated from the ASX 300 as Ten Network enters ASX 100

Photon Group today dropped out of the ASX 300 because the company’s reduced market capitalisation means it is no longer among Australia’s 300 most valuable listed companies.  

S&P Indices today announced its quarterly updates on who is in and out of the ASX50, ASX100, ASX200 and ASX300.

Photon Group, whose market capitalisation is now just under $18m, was one of 14 companies to drop out of the ASX300.

In the update, S&P Indices said: “Company additions to and deletions from a Standard & Poor’s index do not in any way reflect an opinion on the investment merits of the company.”