AVI - AVI Limited - Settlement of Contingent Tax Liability of Foreign Subsidiary
AVI
AVI
AVI - AVI Limited - Settlement of Contingent Tax Liability of Foreign Subsidiary
AVI LIMITED
Registration number 1944/017201/06
Share Code: AVI
ISIN: ZAE000049433
("AVI" or "the Group")
SETTLEMENT OF CONTINGENT TAX LIABILITY OF FOREIGN SUBSIDIARY
As previously reported, a foreign subsidiary of the Group has since 2004 been
involved in a dispute with the South African Revenue Service ("SARS"). The
matters under dispute were complex and it was anticipated at that time that the
legal process embarked on would take an extended period to complete.
Shareholders are advised that on 30 March 2009 the foreign subsidiary and SARS
reached agreement in terms of which an amount of R34 million was paid to SARS in
full and final settlement of the dispute. After taking account of existing
provisions related to this dispute, the settlement is not expected to have any
material effect on headline earnings for the year ending 30 June 2009.
Illovo
Johannesburg
02 April 2009
Sponsor
Standard Bank
Date: 02/04/2009 10:27:02 Produced by the JSE SENS Department.
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