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PSource Struct Debt (PSD)

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Tuesday 15 May, 2012

PSource Struct Debt

Recommended Proposals: Tax Clearance

RNS Number : 3482D
PSource Structured Debt Limited
15 May 2012
 



15/5/2012

PSource Structured Debt Limited

RECOMMENDED PROPOSALS: TAX CLEARANCE

PSource Structured Debt Limited (the "Company") stated in its circular to shareholders setting out recommended proposals for a managed winding down, released on 12 April 2012, that the Company had submitted a request to HMRC for confirmation that these proposals would not result in the Company being regarded as an "offshore fund", and expected to receive a response before the date of the EGM.

The Company has now received confirmation from HMRC that the managed winding down proposed in that circular will not bring the Company within the definition of an offshore fund for the purposes of United Kingdom taxation.  The Directors have therefore been advised that the commencing of the winding down and the availability of any share buybacks or tender offers that the Directors may decided to implement as part of the winding down should not result in the Company being an offshore fund for the purposes of United Kingdom taxation and the provisions of the Offshore Funds Rules should therefore not apply.

 

Further details relating to United Kingdom taxation are set put on pages 10 and 11 of the circular. Any shareholder in the Company who is in doubt about such shareholder's tax position or who may be subject to tax in a jurisdiction other than the United Kingdom should consult an independent professional adviser.

 

Contact:

 

Soondra Appavoo

PSource Capital Limited

020 7925 3156


This information is provided by RNS
The company news service from the London Stock Exchange
 
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