Feb 16 (Reuters) - Tabcorp Holdings Ltd (TAH)
- AUSTRAC proceedings resolved
- Has entered into an agreement with AUSTRAC to resolve federal court proceedings between parties.
- Parties will seek orders from court that Tabcorp pays a penalty of $45.0 million
- parties will approach court within seven days to seek an order that tabcorp pays above amount
- AUSTRAC will withdraw remaining allegations of non-compliance.
- will make a number of admissions of non-compliance with its anti-money laundering and counter-terrorism financing obligations
- investment is scalable and transferrable, including in context of Tabcorp's proposed combination with tatts group
- AUSTRAC will withdraw remaining allegations of non-compliance.
- fy17 dividend target remains greater of 90% of npat before significant items and amortisation of victorian wagering and betting licence or 24 cents per share
- if court agrees to make orders sought, tabcorp will recognise expense in its financial statements for year ending 30 June 2017
