HMRC Intended Penalty Notification

Augean plc

("Augean" or "the Group")

 Augean South HMRC Intended Penalty Notification

Augean, one of the UK's leading specialist waste management businesses, has been issued with a notice of intended penalty from HMRC for Augean South Limited for a total amount of £4.6m covering the period starting 1 June 2013 and ending 30 May 2018. HMRC intend to issue this penalty on 30 August 2019. No further announcement in this regard will be made unless the intended penalty is withdrawn or is issued for an amended value.

It was advised with the Group's Interim Results issued on 17 July 2019 that penalties could be issued. The Group will vehemently challenge and appeal this intended penalty with the tax tribunal expected in 2020. The Group continues to believe, based on legal advice, that it has paid the correct amount of landfill tax and that HMRC's assessments and intended penalty are incorrect. No financial provision will be made for HMRC's assessments or the intended penalty based on legal advice received.

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This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation.

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