dividend cancelled

...why aren't we that surprised?

***********************************************************

ASX ANNOUNCEMENT 16 July 2008
Indigo Pacific advises no dividend for year ending 30 June 2008
The directors of Indigo Pacific Capital wish to advise the following:
Indigo Pacific has a loan of $46.6 million to the Indigo Group and at 30 June 2008 the interest
receivable on that loan was $4.4 million. The Indigo Group have advised that $1.1 million of that
interest will be paid by 31 July 2008 with the balance expected by 30 November 2008.
At the AGM in November 2007 and in an update on 5 March 2008, it was indicated that a
dividend of 7 cents per share was likely to be paid for the year ended 30 June 2008. However in
the current difficult credit climate the directors believe it is prudent to hold cash in the company. It
has therefore been decided that no dividend will be paid for the year ended 30 June 2008.
Whilst the directors understand the impact of this decision, they feel that it is in the best interests
of all shareholders.
Steve Mackay
Managing Director