TIDMTRP

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 31(st) 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    +44 20 3735 8825 
  Investor Relations          tower@yellowjerseypr.com 
  Tim Thompson 
  Henry Wilkinson

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

MSCUGUMWMUPBGQR

(END) Dow Jones Newswires

July 09, 2019 04:28 ET (08:28 GMT)

Grafico Azioni Tower Resources (LSE:TRP)
Storico
Da Mar 2024 a Apr 2024 Clicca qui per i Grafici di Tower Resources
Grafico Azioni Tower Resources (LSE:TRP)
Storico
Da Apr 2023 a Apr 2024 Clicca qui per i Grafici di Tower Resources