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

The Company has been informed that the Upper Tribunal (Tax and Chancery Chamber) has rejected the Company's appeal to reclaim £1,847,976.70 of input VAT plus any interest and costs. The Company has until 2 September 2016 to make any application for permission to make a further appeal to the Court of Appeal in England & Wales.

The Company is considering the implications of the decision with its lawyers and is awaiting further advice from them.

Subject to whether any further appeal is successfully made, the Company has a prospective liability for the costs incurred by Her Majesty's Revenue and Customs for the appeal and HMRC has made an application to the Tribunal for an order for those costs, which are presently unquantified, to be paid by the Company.

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