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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