Eltek ASA has received a notification from the tax authorities that they are considering changing the tax assessment for 2010 and 2011 related to loss on intercompany receivables. The implication of the proposed changes will be a reduction of tax loss carried forward of approximately NOK 460 mill and a corresponding negative impact on capitalized deferred tax assets and equity of approximately NOK 130 mill. Eltek ASA disputes the tax authorities preliminary evaluation.

For further information, please contact:

Eltek ASA
CFO Björn Wigström: +47 905 31 304

About Eltek ASA:

Eltek is a strategic technology partner within power solutions. The Company reported revenue of NOK 3.5 billion in 2012, and has approximately 2,500 employees and operations in almost 40 countries. The company focuses on power electronics markets, where the company is one of the leaders in telecom power and a growing force within industrial applications. Eltek also holds growth opportunities within solar power, e-vehicles, and datacenters. Eltek is listed on Oslo Stock Exchange and headquartered in Drammen, Norway.


 

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.


This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Eltek ASA via Thomson Reuters ONE
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