Update - VAT repayment claim

RNS Number : 1746E

Sportech PLC

02 November 2015

 

2 November 2015                                                                                              

Sportech PLC ("Sportech" or "the Group")

Update - VAT repayment claim - Sportech advised of delay to hearing date

Sportech has been advised that the hearing of its appeal to the Court of Appeal, in relation to the £97m VAT repayment claim on the "Spot the Ball" game, due to be heard this week, has been delayed due to a lack of judicial availability.

The Court of Appeal will now schedule a new hearing date and the Group will provide shareholders with an update accordingly.

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.

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For further information, please contact:

Sportech PLC                                                                                020 7268 2400

Ian R Penrose, Chief Executive

Cliff Baty, Chief Financial Officer

Brunswick Group LLP                                                                   020 7404 5959

Mike Smith and Rosheeka Field

[e-mail]

Investec Bank PLC                                                                        020 7597 5169

Patrick Robb

Peel Hunt LLP                                                                               020 7418 8900

Dan Webster

 

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