Sound Energy resolves tax disputes with Moroccan authorities
Sound Energy
1.03p
16:55 23/12/24
Sound Energy has successfully resolved its tax disputes with the Moroccan Tax Authority, it announced on Thursday.
FTSE AIM All-Share
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17:09 23/12/24
The AIM-traded firm said it recently received court papers confirming the withdrawal of cases between Sound Energy and the Moroccan Tax Authority, bringing a definitive end to the legal proceedings.
In May, Sound Energy announced that it had reached a full and final settlement agreement with the Moroccan Tax Authority regarding the tax disputes related to Sound Energy Morocco East and Sound Energy Morocco SARL AU.
The terms of the settlement were outlined in the company's announcement on 4 May.
Following the settlement agreement, the court had now provided written confirmation of its judgment, formally closing both remaining court cases.
At 1447 BST, shares in Sound Energy were up 1.67% at 1.53p.
Reporting by Josh White for Sharecast.com.