Update on VAT claim

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").

Tricor plc

("Tricor" or the "Company")

Update on VAT Claim

Her Majesty's Revenue and Customs ("HMRC") have made an application to the Upper Tribunal (Tax and Chancery Chamber) for their legal costs in regards to the Company's appeal proceedings for an amount of £38,885.90 (including VAT).

The Upper Tribunal has invited the Company to respond to HMRC's application for costs in relation to the Upper Tribunal appeal by 20 September 2016.

The Company's position in respect of HMRC's previous application for costs of the First-Tier Tribunal proceedings is presently undetermined and the Company is awaiting further advice on this.

As announced on 2 September in the Company's final results for the year ended 31 March 2016, subject to whether any further appeal is successfully made, the Company has made a provision for the prospective liability for the costs incurred by HMRC for the legal costs of £100,000 in the Company's current year's accounts.

The Company is considering the implications of the decision with its lawyers and is awaiting further advice from them. The Company will make any further announcement as appropriate.

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