European Directories BondCo S.C.A. announces administrative court ruling in tax case
European Directories BondCo S.C.A. announced today that the Helsinki Administrative Court has issued a ruling in a tax dispute against one of European Directories BondCo S.C.A's indirect subsidiaries, Finderia Oy (in liquidation). The Administrative Court’s ruling imposes an income tax and penalty interest on Finderia Oy amounting to approximately EUR 50 million.
The income tax liability is related to asset valuations in connection with Finderia Oy’s liquidation. The European Directories Group maintains its position that the tax claim is unfounded. The present ruling contravenes previous court rulings and misinterprets applicable law. Finderia Oy will appeal the Administrative Court's decision and also request that the payment of any tax is deferred.
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European Directories Group is an online partner for SMEs offering local search and lead generation with a scalable business model. The European Directories Group operates through three main brands: Fonecta in Finland, Herold in Austria and DTG in the Netherlands. More information about the European Directories Group can be found at www.europeandirectories.com.
The information in this announcement is required to be disclosed by European Directories BondCo S.C.A. under the Swedish Securities Markets Act (Sw. lagen om värdepappersmarknaden) and article 15(2) of the Luxembourg law of 10 January 2008 on transparency obligations, as amended and article 13 of the Grand Ducal Regulation of 11 January 2008 on transparency obligations. This information was released for publication at 08:30 CET on 18 September 2015.