7 Jan 2016 13:16
7 January 2016
Sportech PLC ("Sportech")
Update - VAT repayment claim - Sportech advised of hearing date
Sportech has been advised that the hearing of its appeal to the Court of Appeal, in relation to the VAT repayment claim on the "Spot the Ball" game, has been scheduled for either 7 April 2016 or 8 April 2016.
The Group will provide shareholders with any further updates in due course.
- ends -
For further information, please contact:
Sportech PLC 020 7268 2400
Ian R Penrose, Chief Executive
Cliff Baty, Chief Financial Officer
Investec Bank Ltd 020 7597 5970
Patrick Robb
Henry Reast
Peel Hunt LLP 020 7418 8900
Dan Webster
Richard Brown
Brunswick Group LLP 020 7404 5959
Mike Smith
Stuart Donnelly
sportech@brunswickgroup.com
Notes
The Claim, which was first submitted in 2009, was heard by the First-tier Tribunal's Tax Chamber ("FTT") in October 2012. In March 2013, it was announced that the FTT had found in Sportech's favour. Following the FTT's rejection of HMRC's subsequent application for leave to appeal to the Upper Tribunal (Tax and Chancery Chamber) ("UT"), HMRC then applied directly to the UT which granted such permission. The Claim was heard by the UT in April and May of 2014 and it was announced in September that the Upper Tribunal had ruled in HMRC's favour. In January 2015, Sportech announced that it had been granted the right to appeal to the Court of Appeal. The appeal was originally scheduled to be heard the week commencing 2 November 2015, but was delayed due to a lack of judicial availability.