"Friday, 6th February 2015. There have been reports in the Philippines media suggesting Ensogo's local subsidiary is under investigation for failure to pay relevant taxes in that country. The Ensogo board was surprised to hear of this issue for the first time yesterday evening. The matter in question primarily relates to events as far back as 2011 and prior to Ensogo's ownership of that Philippines Company.
The company is currently talking with the Philippines Bureau of Internal Revenue to understand the issue, confirm if indeed there are any outstanding tax payments owing from prior periods and is contacting the previous owner of the company who has provided Ensogo with warranties in relation to just such an event."
Nice to see Ensogo on the front foot here, and that warranties from the previous owner are in place.
I hope this doesn't distract the team from growing the company
E88 Price at posting:
12.0¢ Sentiment: Buy Disclosure: Held
