no the 9 cents reflected just a small probability they would win the case. i.e. you would most likely get nothing cause they probably will lose, but potentially get a big windfall on a small chance of them winning. read page 3 of the afr today, i couldn't find the article on the net.
but try this little snippet
Posted 03:18 PM ET
Jul 26, 2011 (The Australian Financial Review - ABIX via COMTEX) -- A Federal Court decision is likely to benefit other online bookmakers in dispute with the Australian Taxation Office (ATO) over goods and services tax (GST). On 26 July 2011, the court ruled against the ATO on GST overpaid by Sportsbet and International All Sports. Centrebet has a similar case in progress. If it won its case, investors would keep most of a $A91 million GST refund.
Publication Date: 27 July 2011
Note that $91 mill versus their current market cap of $181 mill. The word "most" just refers to the documentation where shareholders retain rights to 90% I think of this $91 mil.
I expect the shares to jump again today.
CIL Price at posting:
$2.03 Sentiment: Hold Disclosure: Held
