REG - Rank Group PLC - Update on VAT refund claim

RankAnnouncement

22/11/2021 08:30

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RNS Number : 0979T  Rank Group PLC  22 November 2021

Business update

The Rank Group Plc

LEI: 213800TXKD6XZWOFTE12

22 November 2021

 

The Rank Group Plc (LSE: RNK) ('Rank' or 'the Group') provides an update on
its VAT refund claim

Rank has reached agreement with HMRC on the quantum of its claim for the
refund of VAT paid on slot machine income in the period from April 2006 to
January 2013.

The refund has been agreed at £77.5m and should be received by the Group
shortly.  Interest is also due on the claim which Rank expects to be circa
£5.5m.  Both amounts will be subject to corporation tax at 19%.

Rank intends to use the proceeds to strengthen its balance sheet and to fund
continued investment in its transformation programme.

 

Forthcoming announcements

Rank will announce its interim results on 27 January 2022.

Ends

Contacts:

Rank

Sarah Powell - investor relations                Tel: +44 1628 504 303

David Williams - public affairs                     Tel:
+44 1628 504 295

 

Media Enquiries:

FTI Consulting LLP (PR adviser to Rank)

Edward Bridges
                                                Tel:
+44 20 3727 1067

Alex
Beagley
Tel: +44 20 3727 1045

 

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