Intrepid Mines Limited: ATO Ruling Re Off-Market Buy-Back
30.03.2015 | Marketwired
SYDNEY, AUSTRALIA--(Marketwired - Mar 30, 2015) - Intrepid Mines Ltd. (ASX:IAU) ("Intrepid" or the "Company") advises that the Australian Taxation Office ("ATO") has published a final Class Ruling (CR 2015/20) in relation to the Company's off-market share buy-back ("Buy-Back"), which was implemented on 11 December 2014. The Class Ruling details the Australian income tax treatment of income for shareholders who disposed of their ordinary shares in the Buy-Back.
The outcome of the Class Ruling is consistent with information previously provided by the Company. In summary, for shareholders who disposed of their shares in the Buy-Back ("Participating Shareholders"), the Class Ruling confirms the following:
- Participating Shareholders are taken to have received $0.30 per share as consideration in respect of the sale of each share sold in the Buy-Back; and
- No part of the Buy-Back purchase price is taken to be a dividend for Australian income tax purposes.
The Class Ruling is attached to this announcement and can be viewed on the website of the ATO (http://law.ato.gov.au/atolaw/index.htm).
The tax consequences of participating in the Buy-Back may vary depending upon the individual shareholder's circumstances. The Company recommends that shareholders seek independent taxation advice on the implications of participating in the Buy-Back, based on their own specific circumstances.
| Shareholder Enquiries |
| Matters related to shares held, change of address and tax file numbers should be directed to: |
| Computershare Investor Services |
| GPO Box 2975, Melbourne, Victoria 3001, australia |
| Telephone: 1300 805 505 |
| +61 3 9415 4000 |
To view the Class Ruling in its entirety, please visit the following link: http://media3.marketwire.com/docs/999274g.pdf
Contact
Enquiries regarding this report may be directed to:
Ravi Underwood
Chief Financial Officer, Sydney, Australia
+61 2 9357 9000
info@intrepidmines.com
www.intrepidmines.com.au