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Bendigo Bank’s shareholding in Cashcard

24 March 2004 |Media centre

The board of Bendigo Bank today resolved to vote in favour of a Scheme of Arrangement for the purchase of 100 per cent of Cashcard Australia Limited by First Data Corporation.

The scheme is conditional upon approval by 75 per cent of Cashcard shareholders and Supreme Court approval.

Based upon the Scheme terms and subject to the above approvals being obtained, Bendigo Bank anticipates it will record a one-off non-operating profit in the order of $7.6 million pre-tax.

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