Seeka provides deferred tax update

Seeka Limited [NZX:SEK] provides the following update on the impact of changes to deferred tax. Legislation enacted on 25 March 2020 reinstated tax depreciation deductions on non-residential buildings. Seeka advises that this change will result in a one-off deferred tax credit of $5.5m (unaudited) in the Statement of Financial Performance at 30 June 2020, which will increase earnings per share by $0.17 in both the interim half year and the full year financial results. Seeka is in the process of preparing its Interim Report and Financial Statements for the six month period ended 30 June 2020, and will release these on 20 August 2020. Seeka confirms its previous earnings guidance before tax in the range of between NZD$9.0m and $11.0m for the full 2020 financial year after the completion of the Company's divestment transactions. This guidance is unaffected by the change to deferred tax. Release ends: For further information please contact: Michael Franks Seeka Chief Executive 021 356516 Stuart McKinstry Seeka Chief Financial Officer 021 2215583 End CA:00357418 For:SEK Type:MKTUPDTE Time:2020-08-04 12:03:34