KPMG settlement

Litigation funder, IMF, has just made the following announcement to ASX:

Bentham IMF Limited ABN 45 067 298 088 GPO Box 5457 Sydney NSW 2001 Freecall 1800 016 464 IMF#1608730 RELEASE TO AUSTRALIAN SECURITIES EXCHANGE (“ASX”) WEDNESDAY, 18 JUNE 2014

IN PRINCIPLE SETTLEMENT – PREMIUM INCOME FUND
1. The Board of Directors of Bentham IMF Limited (“IMF”) is pleased to announce an in-principle settlement of the claims by certain unitholders and the new responsible entity of the Premium Income Fund (Fund) against KPMG, as auditor of the Fund’s compliance plan.
2. The contemplated terms of the settlement are confidential to the parties and are to be the subject of a Settlement Deed, still to be negotiated.
3. Any income will be brought to account in the 2015 financial year.
4. IMF will make a further announcement if and when a binding Settlement Deed is executed.
Diane Jones Chief Operating Officer