Reference is made to the IPO prospectus and the
update given in the Q4 2014 report regarding the
income tax issue which has been under review by
Skatt Øst (Norwegian tax authorities). XXL ASA has
now received a draft decision from Skatt Øst
regarding income years 2010, 2011, 2012 and 2013. In
its draft decision, Skatt Øst is proposing to
increase the Group's income with NOK 323 million
related to tax deductions for interest expenses on
loans to associated parties. In addition Skatt Øst
has proposed withholding tax of NOK 81 million and
penalty tax of 30 percent.
No final resolution has been made and Skatt Øst is
awaiting a response from XXL ASA.
XXL ASA does not agree with Skatt Øst and intends to
oppose the draft decision.
For further queries, please contact:
Tolle O. R. Grøterud, Head of Investor Relations,
XXL ASA
Tel: +47 90 27 29 59
E-mail: ir@xxlasa.com
About XXL ASA
XXL is a leading sports retailer with stores and e-
commerce in Norway, Sweden and Finland. It is the
largest and the fastest growing among the major
sports retailers in the Nordics. XXL pursues a broad
customer appeal, offering a one stop shop experience
with a wide range of products for sports, hunting,
skiing, biking and other outdoor activities. XXL's
concept is to have the largest stores with the
lowest prices and the widest assortment of products,
focusing on branded goods.