IMF Bentham announces conditional settlement Australian shareholder class action - Sequoia Direct Pty Ltd

16SepSeptember 16, 2019

IMF Bentham announces conditional settlement Australian shareholder class action

Litigation funder IMF Bentham (ASX:IMF) has today confirmed that it has reached a binding settlement deed in the securities class action against UGL which is conditional only on final approval by the Federal Court of Australia.

IMF says If Court approval is obtained IMF currently expects to generate gross income of approximately $8.6 million, including reimbursement of project costs.

This investment is part of IMF’s on-balance sheet portfolio.

Investment Bank Goldman Sachs currently has IMF Bentham flagged as a 'buy' and says it expects a significant step up in the level of contract income recognized in FY20 vs FY18 and FY19 for the company.

Shares in IMF Bentham (ASX:IMF) 1.11 per cent higher at $3.18

Copyright 2019 – Finance News Network

Source: Finance News Network

Related Posts

14FebFebruary 14, 2020

Regional Express’s (ASX:REX) Pel-Air awarded NSW Air Ambulance contract

14 Feb 2020 - Regional Express (ASX:REX) report that New South Wales Ambulance and Pel-Air have entered into a contract to provide Fixed Wing Patient Transport Services to NSW Ambulance.

09JanJanuary 9, 2020

Catapult Group International (ASX:CAT) sign deal with a Colombian professional football league

09 Jan 2020 - Catapult Group International (ASX:CAT) has signed a deal with DIMAYOR, a Colombian professional league for association football clubs.

21JanJanuary 21, 2021

Santos (ASX:STO) annual production 18% above prior year

21 Jan 2021 - Santos (ASX:STO) has recorded annual production of 89 million barrels of oil equivalent for their fourth quarter, 18 per cent above the prior year and at the top end of upgraded guidance provided in December.

03MayMay 3, 2021

Stocks of the Hour: Seven West Media, Ingenia & Namoi

03 May 2021 - A snapshot of companies making headlines in the afternoon session, featuring Seven West Media, Ingenia & Namoi.

02JunJune 2, 2023

Stocks of the Hour: Magnis, Aurora Labs, Grand Gulf Energy

02 Jun 2023 - A snapshot of the stocks on the move featuring Magnis (ASX:MNS), Aurora Labs (ASX:A3D) and Grand Gulf Energy (ASX:GGE).

15FebFebruary 15, 2024

Stocks of the Hour: Ora Banda Mining, Accelerate Resources, Altium, Way2VAT

15 Feb 2024 - A snapshot of the stocks on the move, featuring Ora Banda Mining (ASX:OBM), Accelerate Resources (ASX:AX8), Altium (ASX:ALU) and Way2VAT (ASX:W2V).

24SepSeptember 24, 2019

Helloworld acquires TravelEdge Group for $28 million

24 Sep 2019 - Helloworld Travel (ASX:HLO) is set to snap up Australia’s largest privately-owned corporate travel manager, the TravelEdge Group.

18JanJanuary 18, 2023

Stocks of the Hour: Riedel Resources, Volpara Health, Godolphin Resources

18 Jan 2023 - A snapshot of the stocks on the move featuring Riedel Resources (ASX:RIE), Volpara Health (ASX:VHT) and Godolphin Resources (ASX:GRL).

19OctOctober 19, 2022

Stocks of the Hour: Azure Minerals, AuKing, Delorean Corp, Carbonxt Group

19 Oct 2022 - A snapshot of the stocks on the move featuring Azure Minerals (ASX:AZS), AuKing (ASX:AKN), Delorean Corporation (ASX:DEL) and Carbonxt Group (ASX:CG1).

08NovNovember 8, 2019

Neptune Marine Services (ASX:NMS) sells key operating subsidiaries to MMA Offshore (ASX:MRM)

08 Nov 2019 - Small cap oil and gas service provider Neptune Marine Services (ASX:NMS) is pleased to announce that it has completed the sale of its key operating subsidiaries to vessel provider MMA Offshore (ASX:MRM).