I also can not see why a trading halt was necessary. What was discussed with the independent advisor .... whether to take the refund or not?
Do we have the whole story on the critical Trade Tax (TT) situation for 2007-10. It seems the German Tax Office applies the rules and does the assessments but that the regional govt, who get the money, also have some say. Its easy to see what that perspective would be!
The statement referring to the refund of the 2011 TT ,issued in error, provides no further details. Is TT payable for that year or another assessment required?
The TT for 2004-6 is still subject to the appeal process. The preliminary finding for TT for 2007-10 is 0.15m Euro. But it has been stated that if TT for 2007-10 is assessed on the same basis as for 2004-6 then 29.25m Euro will be payable ....... effectively bankrupting MUE.
This makes no sense. The GTO which applies the tax rules cannot change the tax outcome across different years without stating a reason.
No information on this reasoning has been provided to MUE shareholders so the critical issue of the TT for 2007-10 which can bankrupt MUE is unknown.
I thus agree that MUE is a punt. I bought at 3.9c.
Like you I will stay with it and agree the portfolio is conservatively valued and with interest rates in Germany near zero substantial upside is possible.
MUE Price at posting:
5.9¢ Sentiment: Hold Disclosure: Held
