ASX Announcement
7 February 2014
Director - CEO
Glyn Dawkins - Non Executive
Director
Geoffrey Garside - Non Executive
Director
Company SecretaryTony McFadden
Principal ContactStephen Bizzaca - Managing
Director - CEO Phone: 02 4629 0300
Tony McFadden - CompanySecretary - CFO Phone: 02 4629 0300
To : Australian Securities Exchange
Company Announcement
Non-cash impairment charge
As a result of impairment testing in preparation for the half year financial results, Delta SBD has decided to record a non-cash impairment charge against goodwill of $29 million for the purposes of statutory accounting.
The goodwill arose from the 2007 merger between Delta Mining Pty Ltd and SBD Services Pty Ltd which formed Delta SBD prior to its ASX listing in December 2010. No goodwill will remain on the company's balance sheet after this impairment charge is taken.
The company believes this is a prudent decision. The impairment charge will have no impact on DSB's underlying business or overall cashflow.
Yours Faithfully
Tony McFadden
Chief Financial Officer and Company Secretary
Suite 220, Centric
4 Hyde Parade
Campbelltown NSW 2560
Telephone: 02 4629 0300
Facsimile: 02 4629 0399
Website: www.deltasbd.com.au
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