The Court of Appeal in Sweden dismisses Metro International's appeal
regarding advertising tax
(Thomson Reuters ONE) - Metro International S.A. ("Metro International"), the internationalnewspaper group, today announced that the Swedish AdministrativeCourt of Appeal (Swedish: "Kammarrätten") has in a ruling dismissedMetro International's appeal against a former ruling from the CountyAdministrative Court (Swedish: "Länsrätten"). The case concernsadditional advertising tax which has been levied on MetroInternational's publishing entity in Sweden, Tidnings AB Metro,following a decision by the Swedish Tax Authorities in 2007. Theadditional advertising tax amounts to approximately SEK 90 millionincluding interest. This amount has already been fully provided forin Metro International's accounts for 2007. Metro International willappeal against the judgement to the Supreme Administrative Court(Swedish: "Regeringsrätten") and will also apply for a respite of thepayment.Earlier this year Metro International made a re-funding through acombination of debentures and warrants of SEK 550 million. In theevent Metro International will be forced to repay the Swedish TaxAuthorities regardless of the appeal, this funding providessufficient cash in order to meet any obligations that have arisen asa result of this ruling by the Administrative Court of Appeal.For further information please contact:Anders Kronborg, CFOtel: +44 (0)79 1254 0800 ***ABOUT METRO INTERNATIONAL AND METROMetro is the largest international newspaper in the world. Metro ispublished in over 100 major cities in 19 countries across Europe,North & South America and Asia. Metro has a unique global reach -attracting a young, active, well-educated Metropolitan audience of 17million daily readers.Metro International S.A. shares are listed on Nasdaq OMX Stockholmthrough Swedish Depository Receipts of series A and series B underthe symbols MTROA and MTROBhttp://hugin.info/132142/R/1354793/328636.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 13.11.2009 - 08:00 Uhr
Sprache: Deutsch
News-ID 8353
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