7 Mar 2016 07:00
7 March 2016
Altona Energy Plc
("Altona" or "the Company")
HMRC Enquiry Concluded
Altona (AIM: ANR) is pleased to advise shareholders that the enquires made by HMRC, in relation to potentially underpaid tax estimated at approximately £790,000 concerning fees paid on a gross basis to a company controlled by a previous board member, have concluded with the Company having no outstanding liabilities to HMRC in the matter.
The Company had previously made a provision of £790,000 against this potential liability in the annual accounts for the year ended 30 June 2014, that was retained in the accounts for the year ended 30 June 2015, and is now able to release this amount for the 2016 full year accounts.
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For further information, please visit www.altonaenergy.com or contact:
Altona Energy plc Qinfu Zhang, Executive Chairman
| +44 (0)7555 679 245
|
Leander (Financial PR) Christian Taylor- Wilkinson
| +44 (0)7795 168 157 |
Northland Capital Partners Ltd (Nomad and Broker) Matthew Johnson / Gerry Beaney (Corporate Finance) John Howes (Corporate Broking)
| +44 (0)20 738 1100 |
About Altona
Altona is listed on the London Stock Exchange's AIM market. Its principal focus is on the evaluation and development of the Company's flagship Arckaringa Project to exploit the significant coal resources contained in three exploration licences covering 2,500 sq. kms in the northern portion of the Permian Arckaringa Basin in South Australia. The Project is designed to produce syngas products for the Australian market and export from a resource exceeding 7.8 billion tonnes of coal (1.3 billion tonnes JORC compliant).