⏳ Final hours! Save up to 60% OFF InvestingProCLAIM SALE

BRIEF-Omni Bridgeway Ltd Updates On Wivenhoe Class Action Mediation

Published 26/02/2021, 12:29 pm
© Reuters.
OBL
-

Feb 26 (Reuters) - Omni Bridgeway Ltd OBL.AX :

* UPDATES ON WIVENHOE CLASS ACTION MEDIATION

* MEDIATION RESULTED IN SETTLEMENT WITH STATE OF QUEENSLAND AND SUNWATER, IN AMOUNT OF A$440MLN

* CASE AGAINST STATE OWNED ENTERPRISE SEQWATER HAS NOT SETTLED AT THIS STAGE

* INTENDS TO DERECOGNISE PORTION OF ITS INVESTMENT ATTRIBUTABLE TO SETTLEMENT THIS FINANCIAL YEAR

* TO RECOGNISE INITIAL INCOME OF ABOUT $30 MILLION THEREBY GENERATING PROFIT OF ABOUT $11 MILLION ON PROJECT COSTS & THIS FY

* UPPER LEVEL OF PRIOR POTENTIAL INCOME RANGE FOR INVESTMENT, OF A$130 MILLION-A$170 MILLION, TO BE MORE LIKELY AND TO BE CONSERVATIVE

* THERE IS NO SETTLEMENT AT THIS STAGE OF 50% PORTION OF LIABILITY ALLOCATED TO SEQWATER

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.