Brief: Pharol Says 2006 Potential Tax Liabilities Reduced By 147 Mln Euros

Pharol SGPS SA

12/05/2023 06:53

May 12 (Reuters) - Pharol SGPS SA  PHRA.LS :
    * SAID ON THURSDAY IT WAS NOTIFIED BY PORTUGUESE TAX
AUTHORITY OF
2006 TAX ASSESSMENT AND ACCOUNTS SETTLEMENT STATEMENT, PURSUANT
TO COURT DECISION HANDED DOWN IN JUDICIAL CHALLENGE PROCESS,
WHICH OUTCOME IS FAVOURABLE TO PHAROL’S CLAIM
    * IN THIS PROCESS, ITS POTENTIAL TAX LIABILITIES WERE
MATERIALLY
REDUCED FROM 170 MILLION EUROS ON APRIL 30, 2023, TO 22 MILLION
EUROS AS OF TODAY
    * THIS AMOUNTS TO REDUCTION OF 147 MILLION EUROS
    * AS REGARDS GLOBAL AMOUNT OF POTENTIAL TAX LIABILITIES, THE
COMPANY THUS REDUCES FROM ABOUT 390 MILLION EUROS ON DECEMBER
31, 2022, TO ABOUT 241 MILLION EUROS AS OF TODAY (ALREADY
CONSIDERING POSSIBLE DEFAULT INTEREST ON LAWSUITS)

        
 Source text: https://bit.ly/3pp3qSg
 Further company coverage:  PHRA.LS  

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))