Eurocastle Receipt of Revised Tax Assessments on Legacy German Investment
16 Fevereiro 2022 - 4:00AM
Eurocastle Receipt of Revised Tax Assessments on Legacy German
Investment
EUROCASTLE INVESTMENT
LIMITED
Contact: Oak Fund
Services (Guernsey) LimitedCompany AdministratorAttn: Tracy
LewisTel: +44 1481
723450
Receipt of Revised Tax
Assessments on Legacy German
Investment
Guernsey, 16 February 2022 – Eurocastle
Investment Limited today announces that it has received revised tax
assessments relating to a legacy German property investment. As
previously disclosed, the potential liability arising from this
matter had already been fullyreflected in the Adjusted NAV as part
of the additional reserves established in December 2019. As at 30
September 2021, the Adjusted NAV was €9.76 per share. The revised
assessments cover the period from 2008 – 2012 and determine a
liability of €4.6 million, or €2.50 per share, which is in line
with the amount reserved by the Company for this liability. In
respect of the same investment, the Company has separately reserved
for further interest accruals, as well as the years 2013 – 2015
which remain subject to ongoing tax audits.
The Company intends to appeal these assessments
through the German tax system and, having taken independent advice,
considers it probable that the matter will finally be determined in
the Company’s favour.
ADDITIONAL INFORMATION
For investment portfolio information, please
refer to the Company’s most recent Financial Report, which is
available on the Company’s website (www.eurocastleinv.com).
ABOUT EUROCASTLE
Eurocastle Investment Limited (“Eurocastle” or
the “Company”) is a publicly traded closed-ended investment
company, focused on Italian performing and non-performing loans,
Italian loan servicing platforms and other real estate related
assets in Italy. On 18 November 2019, the Company announced a plan
to realise the majority of its assets with the aim of accelerating
the return of value to shareholders. The Company will not currently
seek material new investments from the proceeds of the realisation
but will continue to support its existing investments to the extent
required in order to optimise returns and distribute cash to
shareholders when available (the “Realisation Plan”). For more
information regarding Eurocastle Investment Limited and to be added
to our email distribution list, please visit
www.eurocastleinv.com.
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