22 October 2019
JKX Oil & Gas plc
("JKX" or "the Company")
Second 2015 Poltava rental fee claim closed in favour of PPC
As previously reported, in April 2019 the Poltava Circuit Administrative Court found in favour of Poltava Petroleum Company ("PPC"), JKX's Ukrainian subsidiary, in relation to Case No. 816/688/16 and ruled that the relevant tax notification decisions previously issued against PPC were illegal. The decisions were consequently cancelled together with the additional tax liability and associated penalties of approximately UAH58m (approximately US$2.3m in total). The Ukrainian Tax Authorities failed to file a Supreme Court appeal within the required time and the judgement of the Poltava Circuit Administrative Court is now binding.
The cancellation of the relevant tax obligations is now reflected in the integrated electronic tax card of PPC. This is the second 2015 Poltava rental fee claim closed in favour of PPC.
JKX Oil & Gas plc +44 (0) 20 7323 4464
Ben Fraser, CFO
EM +44 (0) 20 7002 7860
Stuart Leasor, Jeroen van de Crommenacker
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