REG - Tower Resources PLC - VAT Tribunal Update

Tower ResourcesAnnouncement

09/07/2019 07:00

RNS Number : 8576E
Tower Resources PLC
09 July 2019
 


9 July 2019
 
Tower Resources plc
VAT Tribunal Update
Tower Resources plc (the "Company" or "Tower" (TRP.L, TRP LN)), the AIM listed oil and gas company with its focus on Africa, is pleased to announce that the First-Tier Tribunal (Tax Chamber) has on 8th July 2019 delivered its decision to allow the Company's appeal against HMRC's 2016 decisions to deny it credit for input VAT.
This decision is subject to possible further appeal by HMRC to the Upper Tribunal. If HMRC chooses to make such an appeal, then it must do so within 56 days of the delivery of the First-Tier Tribunal's decision. Any such appeal must be based on an error of law. The findings of fact made by the First-Tier Tribunal are final. 
The Company has fully provided for assessments previously issued by HMRC in the Company's accounts, up to and including its accounts for year ended 31st December 2018.                                                                               
The Company will announce further developments as they arise.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
 
Contacts
 




Tower Resources plc


+44 20 7157 9625

info@towerresources.co.uk




Jeremy Asher

Chairman and CEO


 




 
Andrew Matharu

VP - Corporate Affairs


 




 


 




 
SP Angel Corporate Finance LLP

Nominated Adviser and Joint Broker




+44 20 3470 0470




Stuart Gledhill
Caroline Rowe
 


 




 


 




Whitman Howard Limited

Joint Broker
Nick Lovering
 


+44 20 7659 1234




 


 




Turner Pope Investments (TPI) Limited

Joint Broker
Andy Thacker
 


+44 20 3657 0050




 


 




Yellow Jersey PR Limited
Investor Relations
Tim Thompson
Henry Wilkinson


+44 20 3735 8825
tower@yellowjerseypr.com
 




 
 




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