DETERMINATION FOR TAXATION PURPOSES OF ACQUISITION COST OF THE SHARES OF QT GROUP PLC AND DIGIA PLC, ESTABLISHED THROUGH PARTIAL DEMERGER FROM DIGIA PLC
DIGIA PLC STOCK EXCHANGE RELEASE OCTOBER 31, 2016 AT 3:00 PM
DETERMINATION FOR TAXATION PURPOSES OF ACQUISITION COST OF THE SHARES OF QT GROUP PLC AND DIGIA PLC, ESTABLISHED THROUGH PARTIAL DEMERGER FROM DIGIA PLC
The Finnish tax authorities have decided upon the determination for taxation purposes of the acquisition cost of shares of Digia Plc and Qt Group Plc, established through partial demerger from Digia Plc.
According to the tax authorities' decision, Digia Plc and Qt Group Plc ratio of the fair value of the shares deviates by more than 30 percentage points in the ratio of net assets transferred to companies. Tax Administration considers such deviation significant. must be maintained. Therefore, fair values of the shares pursuant to 52 c § 5 of the Act on Taxation of Business Income shall be used as a division ratio in calculation of the acquisition cost of the shares.
- based on the above, acquisition cost of Digia Plc's share shall be 48.14 per cent of Digia Plc's original acquisition cost before the partial demerger.
- based on the above, acquisition cost of Qt Group Plc's share shall be 51.86 per cent of Digia Plc's original acquisition cost before the partial demerger.
Further information (in Finnish) about the decision can be found at: http://www.vero.fi/fi-FI/Syventavat_veroohjeet/Verohallinnon_ohjeet/Digia_Oyjn_osittaisjakautumisessa_syntyn(41081)
Digia Plc
Digia is a profitably growing IT service company that helps its customers harness digital opportunities.
As a visionary partner, Digia develops and innovates solutions that support business operations together with its customers. We adapt our expertise to their specific industries to help them develop digital services, manage operations and utilise information. We employ 850 experts in Finland and Sweden. We are expanding our international presence together with our customers.
Digia’s continuing operations had net sales of EUR 81 million in 2015. The company is listed on NASDAQ Helsinki (DIG1V).