Ann: Clark Property and International Training Update, page-8

Been a bit slow in responding as I wanted to hear from a colleague who attended the AGM.

Trying to understand anything legal is very hard unless you're a lawyer. This judgement appears to be from a request to review a decision made by the AAT in March 2019. This wasn't announced by SIT at the time, and this ruling you linked to wasn't announced, presumably because it isn't market sensitive or material.

According to feedback I got from the AGM, the legal proceedings lodged in 2018 are still ongoing and they don't expect a resolution till late 2020. They are still confident of a positive outcome. (no change to previous announcements). So these proceedings are different to the above. Site still have a legal stay allowing them to operate until the hearing is finalised (late 2020) and they continue to do so - hence no announcement - nothings changed.

The Australian operations are loss making, the bottom line would be better without them. It might be a blessing if they do lose the case next year. My main interest is the potential sale for around US$90m (AUD$140m) of the Clark asset which would be huge for a company with a market cap circa $50m. I have no idea as to whether they'll win or lose the court case, my only comment is having lots of money usually increases your chance of success in litigation.

Worst case, yes we'd take a $12-14m hit in revenue as you say, however expenses would reduce by more than that (loss making). There will be some upfront costs to close it down.

(this was suppose to be a reply to Thoruims post, for some reason the system won't let me reply)