Trinidad tax appeals update

RNS Number : 5714F

Star Phoenix Group Ltd

10 March 2020

 

Star Phoenix Group Ltd

("Star Phoenix" or "the Company")

10 March 2020

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

TRINIDAD TAX APPEALS UPDATE

Star Phoenix (AIM: STA), an international company with oil and gas projects and oilfield service businesses in Trinidad and Indonesia, provides the following update in relation to the ongoing tax appeal matters that its Trinidad subsidiary Range Resources Trinidad Limited ("RRTL") is involved in.

Two of the appeals were heard by the Tax Appeal Board in Trinidad on 9 March 2020 and have now been set for trial on 26 and 27 May 2020. Two further tax appeal cases have been scheduled for hearing on 26 May 2020. 

As previously announced, the total amount of all liabilities in dispute against RRTL (four tax appeal cases in total) is approximately US$4.9 million.

Contact Details
Star Phoenix Group Ltd Evgenia Bezruchko (Group Corporate Development Manager & Joint Company Secretary) e. [e-mail] t.   [phone]	Cantor Fitzgerald Europe (Nominated Adviser and Broker) David Porter / Rick Thompson (Corporate Finance) t.   [phone]

 

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