1 May 2013 07:00
1 May 2013
Sportech PLC ("Sportech" or "the Group")
Update - Outcome of VAT repayment claim
Following the announcement on 7 March 2013 that the First-tier Tribunal's Tax Chamber ("FTT") found in favour of the Group in respect of issues concerning the VAT treatment of its Spot the Ball game for the period 1979-1996 (the "Claim"), Her Majesty's Revenue & Customs ("HMRC") have informed Sportech that they intend to seek permission to appeal to the Upper Tribunal against the decision of the FTT.
Sportech has been advised that it should expect to hear whether HMRC have been granted the right to appeal within the next 2-4 weeks.
The Board of Sportech will continue to take appropriate legal and professional advice on the Group's position, and advise shareholders accordingly.
-Ends-
For further information, please contact:
Sportech PLC 020 7268 2400
Ian Penrose, Chief Executive
Brunswick Group LLP 020 7404 5959 / sportech@brunswickgroup.com
Mike Smith, Tom Williams