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BRIEF-Tatts Group updates on High Court of Australia Judgment

Published 02/03/2016, 11:50 am
Updated 02/03/2016, 12:00 pm
© Reuters.  BRIEF-Tatts Group updates on High Court of Australia Judgment
TTS
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March 2 (Reuters) - Tatts Group Ltd TTS.AX :

* Says 'amount of the interest has not yet been determined"

* Says high court of Australia judgment

* Expected financial impact in the 2016 full year accounts will be payment to

state of additional interest plus costs

* Decision not expected to affect co's ability to continue its stated dividend

policy of maintaining a high annual dividend payout ratio

* Litigation proceeds have been used to repay debt as it matured and this has

resulted in an approximate $18.6 million after tax benefit

* Court of Australia upheld the state of victoria's appeal in relation to the

matter of the state of Victoria v Tatts Group Limited

* Court says Tatts must repay the state $540.5 million plus interest from 27

June 2014

* Source text for Eikon ID:nASXbtMW03

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