ZEAL Network SE / Miscellaneous
ZEAL Network SE: Successful reclaim of Spanish lottery tax withheld,
impairment charge required for Geonomics investment
03-March-2016 / 18:34 CET/CEST
Dissemination of a Regulatory Announcement, transmitted by EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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MyLotto24 Ltd, a fully consolidated minority shareholding of ZEAL Network
SE, has today received a refund of EUR 9.6 million from the Spanish Tax
Authority. This refund related to lottery tax withheld at source on a large
jackpot payout as communicated in our publication of 13 May 2015. The
payout will have a corresponding positive impact on both Total Operating
Performance and EBIT in ZEAL's consolidated income statement for the year
ended 31 December 2015.
In addition, ZEAL has assessed the viability of the business plans of both
Geonomics Global Games Limited and its subsidiary Geo24 UK Limited
(together 'Geo') and concluded that it no longer supports the carrying
value of ZEAL's investment in Geo. As a result, a non-cash charge of EUR 19
million will be recorded in ZEAL's consolidated income statement for the
year ended 31 December 2015. This charge will reduce net profit by the same
amount. The residual carrying value of the Group's investments in Geo is
EUR nil at 31 December 2015.
ZEAL intends to publish preliminary unaudited figures for the year ended 31
December 2015 in the near future.
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03-March-2016 The EQS Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap.de/ukreg
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Language: English
Company: ZEAL Network SE
5 th Floor One New Change
EC4M 9AF London
United Kingdom
Phone: +44 (0)20 3739-7000
Fax: +44 (0)20 3739-7099
E-mail: office@zeal-network.co.uk
Internet: www.zeal-network.co.uk
ISIN: GB00BHD66J44
WKN: TPP024
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard);
Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Munich, Stuttgart
Category Code: MSC
TIDM: -
Sequence Number: 3027
Time of Receipt: 03-March-2016 / 17:59 CET/CEST
End of Announcement EQS News Service
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442543 03-March-2016
DGAP-Regulatory: ZEAL Network SE: Successful reclaim of Spanish lottery tax withheld, impairment charge required for Geonomics investment
| Source: EQS Group AG