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- Release Date: 28/02/14 12:04
- Summary: GENERAL: DOW: IMF Class Action Settlement
- Price Sensitive: No
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DOW
28/02/2014 10:04
GENERAL
REL: 1004 HRS Downer EDI Limited
GENERAL: DOW: IMF Class Action Settlement
Media/ASX and NZX Release
27 February 2014
IMF Class Action Settlement
Downer EDI Limited (Downer) refers to its announcement on 30 July 2013 that
it had agreed to enter into without prejudice discussions with Slater &
Gordon Lawyers in relation to a proposed IMF funded action. The action
related to claims by certain current and former Downer shareholders who had
acquired ordinary Downer securities between 25 February 2010 and 31 May 2010,
inclusive.
As a result of those discussions, the parties have reached an agreement to
settle the claims. The settlement has been reached on a commercial basis and
without admission of liability by Downer. The settlement is conditional on
the outcome of a vote by the funded shareholders to accept the settlement.
The details of the settlement are confidential.
The settlement will have no impact on Downer's guidance of Net Profit After
Tax of around $215 million for the 2014 financial year.
For further information please contact:
Michael Sharp, Group Head of Corporate Affairs and Investor Relations
+61 439 470145
Luke Thrum, Manager Investor Relations
+61 459 828720
Downer EDI Limited (www.downergroup.com) provides comprehensive engineering
and infrastructure management services to the public and private Minerals &
Metals, Oil & Gas, Power, Transport Infrastructure, Telecommunications, Water
and Property sectors across Australia, New Zealand and the Asia Pacific
region.
End CA:00247633 For:DOW Type:GENERAL Time:2014-02-28 10:04:12
(20min delay)