Sound Energy PLC Update re Moroccan Tax Matter (6118N)
30 Septiembre 2021 - 10:00AM
UK Regulatory
TIDMSOU
RNS Number : 6118N
Sound Energy PLC
30 September 2021
30 September 2021
Sound Energy plc
("Sound Energy" or the "Company")
Update re Moroccan Tax Matter
Request to Court to cancel the remaining tax claim in relation
to the signing of Greater Tendrara Petroleum Agreement
Sound Energy, the Moroccan focused upstream gas company,
confirms that, further to the Company's announcement of 6 August
2021, its wholly owned subsidiary Sound Energy Morocco East Ltd
("SEME") has now filed to the Moroccan Court its challenge to the
remaining charges relating to the Moroccan Tax Administration's
assessment of a purported disposal of assets by SEME to
Schlumberger in relation to the signing in October 2018 of a
brand-new petroleum agreement for exploration at Greater Tendrara
(the "Filing"). The Filing has been made within the stipulated
period of 60 days from the date of the local Tax Committee
Decision.
As previously announced the Company remains of the strong
opinion that the remaining charges against SEME in respect of entry
of the new Greater Tendrara petroleum agreement have been wrongly
interpreted by the Moroccan Tax Administration.
The Company, together with its advisors, continues to seek to
engage constructively with the authorities but in the meantime will
continue to defend its rights through the Court in the event that
the Moroccan Tax Authority does not drop the charges against SEME.
The previously notified tax claims against Sound Energy Morocco
SARL AU remain in due process.
Further announcements will be made, as appropriate, in due
course.
For further information please contact:
Vigo Consulting - PR Adviser Tel: 44 (0)20 7390 0230
Patrick d'Ancona
Chris McMahon
Sound Energy chairman@soundenergyplc.com
Graham Lyon, Executive Chairman
Cenkos Securities - Nominated Adviser Tel: 44 (0)20 7397 8900
Ben Jeynes
Pete Lynch
SP Angel Corporate Finance LLP - Broker Tel: +44 (0)20 3470 0470
Richard Hail, Sam Wahab
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