Porsche Automobil Holding SE: Outflow of liquidity by tax payment/dissolution of provisions
Porsche Automobil Holding SE / Key word(s): Miscellaneous
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
The tax authority has informed Porsche Automobil Holding SE today, that
shortly revised assessments with regard to the final tax treatment of stock
option transactions will be issued. Consequently, the company will shortly
make tax and interest payments from existing liquidity in the amount of
approx. EUR 626 million. The provisions in the amount of approx. EUR 719
million remaining after payment will be dissolved with effect on the
profit, but neutral as regards liquidity. The dissolution of the provisions
does not lead to a further tax expense. The company had reported on the
dispute about the tax treatment in its annual report 2009/2010 on page 92.
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Company: Porsche Automobil Holding SE
Phone: +49 (0)711 911-11000
Fax: +49 (0)711 911-26375
Listed: Regulierter Markt in Frankfurt (General Standard), Berlin,
Stuttgart, München; Freiverkehr in Hannover, Hamburg,
Düsseldorf; Terminbörse EUREX
End of Announcement DGAP News-Service