The Company "Synergistic Network Developments Telecommunication Services S.A." (the "Company"), an associated company of the Forthnet Group, has accepted the tax-audit concerning unaudited fiscal years from 2003 to 2007.
According to the said tax audit, the total tax for the above five fiscal years amounted to euro 303,944 (euro 219,969 - euro 25,650 - euro 16,408 - euro 9,882 and euro 32,035 for the years 2003 to 2007 respectively).
From the said total amount, an amount of euro 60,789 which refers to the 20% of the total debt has already been paid by the Company with the signature of the acceptance deed.
It is noted that, with regard to the above unaudited tax years, the Company has made a provision in the financial statements as of Μarch 31st 2008, amounting to euro 100,000. Furthermore, and in accordance with the relevant Share Purchase Agreement, the remaining amount of the tax audit euro 203,944 shall be borne by the Company's former shareholders.
The present announcement is made in accordance with paragraphs 4.1.3.1.ib and 4.1.3.6. of the Athens Stock Market Regulation, as in force, in combination with art. 6 of the Law 3340/2005 and articles 2 and 3 of the Decision 3/347/12.7.2005 of the Hellenic Capital Market Commission.