2nd May 2019
JKX Oil & Gas plc
Update on 2015 Poltava rental fee claims
As previously reported, in December 2018 the Poltava Circuit Administrative Court heard case 816/845/16 relating to additional tax liability and associated penalties of approximately UAH9m (US$0.3m) and found in favour of Poltava Petroleum Company ("PPC"). Following appeal of this judgement by the Poltava Tax Authorities and subsequent adjournment this case has today been heard by the Kharkiv Appellate Administrative Court ("the Court").
In its decision the Court has confirmed the judgment of the first instance court that the tax notification decisions issued to PPC and contested in case No. 816/845/16 are illegal and has cancelled them together with the additional tax liability and associated penalties of approximately UAH9m (US$0.3m). This decision is the first of PPC's 2015 tax cases to be heard at the appellate level and follows two successful challenges by PPC to tax notification decisions in the circuit courts. This decision may be subject to one final level of appeal in the Supreme Court of Ukraine.
This announcement contains inside information as defined in EU Regulation No. 596/2014 and is in accordance with the Company's obligations under Article 17 of that Regulation.
JKX Oil & Gas plc +44 (0) 20 7323 4464
Ben Fraser, CFO
EM Communications +44 (0) 20 7002 7860
Stuart Leasor, Jeroen van de Crommenacker
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