Brief: ZEAL Network: Subsidiary MyLotto24 Obtains Final Annulment Of VAT Assessment

ZEAL Network SE

12/08/2022 08:55

Aug 12 (Reuters) - ZEAL NETWORK SE  TIMAn.DE :
    * SUBSIDIARY MYLOTTO24 OBTAINS FINAL ANNULMENT OF VAT
ASSESSMENT
    * ANY SUCH MEASURES WOULD BE ANNOUNCED SEPARATELY
    * DISTRIBUTION TO SHAREHOLDERS IN FORM OF DIVIDENDS OR BY
WAY OF A
SHARE BUYBACK PROGRAM IS ALSO POSSIBLE
    * FEDERAL FISCAL COURT HAS REJECTED APPEAL OF TAX AUTHORITY
(FINANZAMT) HANNOVER-NORD AGAINST DECISION OF FISCAL COURT OF
HANOVER (FINANZGERICHT HANNOVER) OF NOVEMBER 2019 WITH FINAL
EFFECT
    * AS A RESULT OF SUCCESSFUL CONCLUSION OF TAX LITIGATION,
ZEAL
WILL HAVE ADDITIONAL FREE LIQUIDITY OF AROUND 56 MILLION EUROS
AVAILABLE
    * PAYMENTS WILL HAVE NO IMPACT ON ZEAL'S INCOME STATEMENT,
AS
CORRESPONDING RECEIVABLE WAS ALREADY RECOGNIZED AS OTHER ASSETS
    * REPAYMENT BY TAX AUTHORITY OF INTERIM PAYMENT OF AROUND
EUR 54
MILLION MADE BY MYLOTTO24 LIMITED PLUS INTEREST OF AROUND EUR
1.8 MILLION IS EXPECTED IN COMING WEEKS

Source text for Eikon:  ID:nEQ4Sy7Vda 
Further company coverage:  TIMAn.DE 

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