Indiana Resources Receives US$25M from Tanzania
Key points
- Second instalment of US$90M settlement agreement received
- Plans for dividend payment to shareholders in December 2024
- Final instalment of US$30M due by March 2025
Full summary
Indiana Resources Limited (ASX: IDA) has confirmed that US$25 million in funds have been received by the Claimants' legal representatives from the United Republic of Tanzania ('Tanzania') as the second instalment of the US$90 million Settlement Agreement announced on 29 July 2024. The Board is currently planning for a dividend payment to shareholders in December 2024, with further details to be provided in due course. Shareholders are encouraged to ensure that their bank account details are accurately recorded with Computershare to facilitate the payments. The final instalment of US$30 million is due to be paid on or before 30 March 2025, and the Company will make a further announcement on distribution to shareholders in Q2 2025 once the final distribution between the Claimants is resolved.
Guidance
The Company plans to make a dividend payment to shareholders in December 2024 using the funds received from the Tanzania settlement agreement.
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