TON 0.00% 1.1¢ triton minerals ltd

The entity responsible for paying the (Capital Gains Tax) is the...

  1. 1,154 Posts.
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    The entity responsible for paying the (Capital Gains Tax) is the vendor of (Grafex)
    (Greg Sheffield & Claudio Manuel Loureiro)
    After-all Triton have not made any (Capital Gains)

    When Sheffield & Loureiro found out they had to pay the (CGT), they tried to get Triton
    to cough up for it (IMO)

    Higgo has probably said F - You, you'se ain't getting F - All, (IMO)

    Below was from the (Prospectus)

    Section 3.3, under the sub-heading “Taxation and compliance risk” identifies the potential
    for the Company to have exposure to capital gains tax liabilities in Mozambique as a
    result of its acquisition of Grafex Limitada. The Company considers that it should not be
    solely liable for any such capital gains tax and that the liability instead primarily rests with
    the Grafex Limitada vendors. Until such time as this matter is resolved, the Company
    does not intend to make additional payments to the vendors of Grafex Limitada beyond
    those required to obtain a 90% interest in the company.
    The SPA provides that unless Triton makes payment for the shares in Grafex Limitada
    that it does not own by 24 February 2016 it will retain its then 90% interest in Grafex
    Limitada. Unless this date can be extended by agreement (or the Company can raise
    additional funds to meet its payment obligations) and there is a resolution on the
    contingent capital gains tax liability in the Company’s favour, the Company will not be in a​
    position to proceed with the acquisition of the remaining 10% interest in Grafex Limitada.
 
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