17:00 Wed 20 May 2020
William Hill PLC - VAT Refund Update
VAT Refund Update
The Group has submitted claims which are substantially similar to those provided in the VAT challenge. Those claims have not yet been subject to the detailed evidential and accounting reviews that will need to take place before entitlement to the refund can be settled.
Whilst William Hill currently expects the net cash recovery to be material, its precise quantum remains uncertain. Nevertheless, the Board has considered a number of scenarios which suggest a potential net cash recovery of between
As a result of this announcement, we will now engage with HMRC to agree the support for, quantum and timing of the refund.
This announcement contains inside information for the purposes of Article 7 of the Market Abuse regulation EU 596/2016. The person responsible for arranging the release of this announcement on behalf of William Hill is Simon Callander, General Counsel and Company Secretary.
OAM: Additional Regulated Information
William Hill LEI: 213800MDW41W5UZQIX82
Enquiries |
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William Hill |
Louise Turner-Smith, Director of Investor Relations Alison Cole, Director of |
Tel: +44 (0) 20 7612 3251 Tel: +44 (0) 20 7612 3233
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Brunswick |
Andrew Porter / Samantha Chiene |
Tel: +44 (0) 20 7404 5959 |
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About William Hill |
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Cautionary note regarding forward-looking statements |
This announcement includes statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "anticipates", "expects", "intends", "plans", "goal", "target", "aim", "may", "will", "would", "could" or "should" or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout these results and the information incorporated by reference into these results and include statements regarding the intentions, beliefs or current expectations of the directors, William Hill or the Group concerning, amongst other things, the results of operations, financial condition, liquidity, prospects, growth, strategies and dividend policy of William Hill and the industry in which it operates. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future and may be beyond William Hill's ability to control or predict. Forward-looking statements are not guarantees of future performance. The Group's actual results of operations, financial condition, liquidity, dividend policy and the development of the industry in which it operates may differ materially from the impression created by the forward-looking statements contained in these results and/or the information incorporated by reference into these results. In addition, even if the results of operations, financial condition, liquidity and dividend policy of the Group and the development of the industry in which it operates, are consistent with the forward-looking statements contained in these results and/or the information incorporated by reference into these results, those results or developments may not be indicative of results or developments in subsequent periods. Other than in accordance with its legal or regulatory obligations (including under the Market Abuse Regulation (596/2014), the Listing Rules, the Disclosure Guidance and Transparency Rules and the Prospectus Rules), William Hill does not undertake any obligation to update or revise publicly any forward-looking statement, whether as a result of new information, future events or otherwise.
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