December 26, 2017 / 9:36 PM / in 6 months

BRIEF-Navitas Updates On U.S. Tax Cuts And Jobs Act Implications

Dec 27 (Reuters) - Navitas Ltd:

* UPDATES ON US TAX CUTS AND JOBS ACT IMPLICATIONS FOR NAVITAS

* US DOMICILED DEFERRED TAX ASSETS OF NAVITAS WILL BE RECOVERABLE AT AN EXPECTED FUTURE FEDERAL TAX RATE OF 21%, RATHER THAN 35%.

* NAVITAS HAS RE-MEASURED CARRYING VALUE OF ITS US TAX ASSETS AT NEW TAX RATE AND REDUCED CARRYING VALUE FROM $17.4M TO $9.9M.

* CHANGE WILL RESULT IN A ONE OFF CHARGE TO INCOME TAX EXPENSE OF $7.5M THAT WILL BE RECORDED IN 2018 INTERIM FINANCIAL STATEMENTS Source text for Eikon: Further company coverage:

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