Tower Resources PLC VAT Tribunal Update (8576E)
09 July 2019 - 6:28PM
UK Regulatory
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
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END
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