IMDEX Resolves Tax Dispute with ATO, Secures Financial Benefits

Imdex Ltd ( (AU:IMD) ) has shared an announcement.

IMDEX has resolved a long-standing tax dispute with the Australian Taxation Office regarding the tax treatment of warrants issued in 2015 and exercised in 2017. Following mediation and a related court decision, the ATO has chosen not to defend the case further, resulting in Federal Court orders in favor of IMDEX. This resolution allows IMDEX to submit revised tax returns, leading to additional cash refunds and future tax credits, with a $6.7 million credit to be recognized in the FY25 financial year.

The most recent analyst rating on (AU:IMD) stock is a Buy with a A$2.25 price target. To see the full list of analyst forecasts on Imdex Ltd stock, see the AU:IMD Stock Forecast page.

More about Imdex Ltd

IMDEX is a leading global Mining-Tech company that provides drilling contractors and resource companies with tools to safely and efficiently find, mine, and define orebodies. Their product offerings include drilling optimization products, cloud-connected rock knowledge sensors, and data analytics services.

YTD Price Performance: 23.48%

Average Trading Volume: 1,510,858

Technical Sentiment Signal: Buy

Current Market Cap: A$1.46B

For detailed information about IMD stock, go to TipRanks’ Stock Analysis page.