ABC arbitrage - Information Notice Regarding Paragraph 4.1 of the Consolidated Accounts Included in the 2023 Annual Financial Report
07 9월 2024 - 1:45AM
UK Regulatory
ABC arbitrage - Information Notice Regarding Paragraph 4.1 of the
Consolidated Accounts Included in the 2023 Annual Financial Report
ABC arbitrage - Information Notice Regarding
Paragraph 4.1 of the Consolidated Accounts Included in the 2023
Annual Financial Report
In accordance with Article 17 of the MAR
regulation concerning the concept of insider information, and
despite the gross financial impact for the first half of 2024 being
estimated at only €230K, ABC arbitrage announces that Quartys
Limited (100% owned subsidiary) received, on August 30, 2024, a
letter from the Swiss Federal Tax Administration ("AFC") rejecting
the refund of withholding taxes.
- Recap of Events – As explained in our 2023
annual financial report, page 60, paragraph 4.1, Quartys Limited is
subject to a review regarding its requests for refund of the
withholding tax ("RAS") addressed to the Swiss Federal Tax
Administration ("AFC") for the years 2016 to 2019 and by extension
until 2023. Given the risks concerning the recovery time of these
RAS and the recent rise in interest rates, the Group, in accordance
with IFRS 13, decided to update the receivable as of December 31,
resulting in a negative impact on the 2023 financial year results
amounting to €1.35M (directly included in the line “Net gains on
financial instruments at fair value through profit or loss” – see
also the 2023 Results Presentation (March 2024), pages 13 and
14).
- AFC Letter – The AFC formally transmitted its
decision to Quartys Limited via a letter received on August 30,
2024. While the AFC formally recognizes that Quartys Limited is
indeed the legal owner of the shares for which the refund of the
withholding tax was requested, it refuses to grant the refund for a
total of 7.4 million CHF (approximately €7.9 million at the current
CHF/EUR exchange rate), amounts slightly lower than those reported
during the publication of the 2023 accounts.
- Next Steps – The Group confirms that it acted
in compliance with the rules of the relevant tax authorities. Upon
receiving the letter from the AFC, the Group confirms the
legitimacy of the refund request submitted by Quartys Limited and
remains confident in the outcome of this dispute. To support this
position with an external opinion, as was done on this matter
during the publication of the 2023 accounts, the Group consulted a
renowned Swiss tax law firm, which confirmed that this letter does
not change its analysis and that the chances of success are more
likely than not, in accordance with the terminology required by
international standards (IFRIC 23).
As explained in the 2023 financial report, the
entire appeal process could take several years. For this reason,
the receivable was discounted over a five-year period in the 2023
accounts, resulting in a negative impact of €1.35M for that year.
The Group has planned to update these amounts for the publication
of the first half of 2024 accounts, adding an additional negative
impact of €0.23M to that of the 2023 financial year, for a total of
€1.58M in impairments of the receivable in the Group’s
accounts.
The various press releases can be viewed on the
company's website at the following link abc-arbitrage, in the
Shareholders section, under Publications.
The next communication is scheduled for
September 24 at 7:00 AM for the announcement of the first-half 2024
results.
Contacts :
abc-arbitrage.com
Relations actionnaires : actionnaires@abc-arbitrage.com
Relations presse: VERBATEE / v.sabineu@verbatee.comEURONEXT
Paris - Compartiment B
ISIN : FR0004040608
Reuters BITI.PA / Bloomberg ABCA FP
- 2024 ABCA Communiqué d'information VEng
ABC Arbitrage (EU:ABCA)
과거 데이터 주식 차트
부터 8월(8) 2024 으로 9월(9) 2024
ABC Arbitrage (EU:ABCA)
과거 데이터 주식 차트
부터 9월(9) 2023 으로 9월(9) 2024