Brief: Magellan Financial Announces Updated FY24 Cost Guidance For Funds Management Business
25/10/2023 02:29
Oct 25 (Reuters) - Magellan Financial Group Ltd
MFG.AX :
* COST GUIDANCE FOR ITS FY24 FUNDS MANAGEMENT BUSINESS
INCREASES
TO A$97.5-A$102.5 MILLION
* IMPACT OF ADDITIONAL RETENTION PAYMENTS ON MAGELLAN'S
EXPENSE
BASE IS EXPECTED TO BE A$2.5 MILLION IN FY24
* INTENDS ADDITIONAL RETENTION PAYMENTS TO CURRENT EMPLOYEES
TO
ASSIST REPAYMENT OF OUTSTANDING EMPLOYEE SHARE PURCHASE PLAN
LOANS
Source text for Eikon: ID:nASXcx52X
Further company coverage: MFG.AX
((Reuters.Briefs@thomsonreuters.com;))
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