News: AMP AMP Reaches Agreement To Settle Shareholder Class Action

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    Aug 21 (Reuters) - AMP Ltd (AMP) :

    • AMP REACHES AGREEMENT TO SETTLE SHAREHOLDER CLASS ACTION
    • AGREEMENT HAS BEEN REACHED TO SETTLE SHAREHOLDER CLASS ACTION BROUGHT BY KOMLOTEX PTY LTD IN JUNE 2018
    • SETTLEMENT IS FOR A TOTAL OF A$110 MILLION
    • MAJORITY OF SETTLEMENT AMOUNT WILL BE MET BY AVAILABLE INSURANCE PROCEEDS
    • IN REACHING A SETTLEMENT, AMP MAKES NO ADMISSION OF LIABILITY
    • SETTLEMENT DOES NOT IMPACT CURRENT SECOND TRANCHE OF CAPITAL RETURN TO SHAREHOLDERS
    • CLASS ACTION RELATED TO MARKET DISCLOSURE OF CERTAIN MATTERS THAT WERE RAISED IN 2018 BANKING AND FINANCIAL SERVICES ROYAL COMMISSION
 
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