MAD
08/07/2014 16:37
GENERAL
REL: 1637 HRS Energy Mad Limited
GENERAL: MAD: Energy Mad - reduction in claimable tax losses
Media Release 8 July 2014
Energy Mad - reduction in claimable tax losses
Energy Mad has previously advised that one of its long-standing international
shareholders may sell their remaining shares in Energy Mad, which would cause
Energy Mad to fall below the 49% minimum continuity of shareholding threshold
required to be met to retain certain tax losses. That shareholder has now
sold a sufficient number of their shares for Energy Mad to fall below the
required continuity threshold. As a result, gross tax losses of $7.7 million
are no longer available.
Energy Mad still has gross tax losses of $4.7 million available to be
utilised when Energy Mad becomes profitable (subject to it maintaining a 49%
minimum continuity of shareholding in respect of such tax losses).
ENDS
For More Information Contact:
Chris Mardon, Managing Director
(021) 041 2981
End CA:00252555 For:MAD Type:GENERAL Time:2014-07-08 16:37:09
