Dec 18 (Reuters) - IOOF Holdings Ltd (IFL) :
- ANNOUNCES CHANGES TO EXTERNAL PLATFORM ARRANGEMENTS
- EFFECTIVE 17 DECEMBER 2020, IOOF AND BT HAVE AGREED TO TERMINATE EXISTING RELATIONSHIP AGREEMENT.
- WILL RECEIVE ONE-OFF SETTLEMENT OF $80 MILLION PRE-TAX WHICH TAKES INTO CONSIDERATION AMOUNTS OWED IN RECOGNITION OF IOOF'S RIGHTS UNDER AGREEMENT
- WILL APPLY ABOUT $18 MILLION OF SETTLEMENT AMOUNT TO OFFSET RECEIVABLE IT IS CURRENTLY CARRYING IN RELATION TO ARRANGEMENT
- BEYOND FY21, IOOF ESTIMATES FY REVENUE IMPACT WOULD REDUCE SIGNIFICANTLY
- FINANCIAL IMPACT OF AGREEMENT ENDING IS FY21 REVENUE DECREASE OF ABOUT $15 MILLION PRE-TAX
Dec 18 (Reuters) - IOOF Holdings Ltd (IFL) : ANNOUNCES CHANGES...
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$3.48 |
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Mkt cap ! $2.320B | |||
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