ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers

LAS London & Associated Properties Plc

10.00
0.50 (5.26%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
London & Associated Properties Plc LSE:LAS London Ordinary Share GB0005234223 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.50 5.26% 10.00 9.00 11.00 10.00 9.50 9.50 54,042 16:27:24
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Real Estate Agents & Mgrs 100.24M 2.7M 0.0317 3.15 8.53M

Lon.&Assoc.Props PLC Report on Payments to Governments

27/06/2017 11:23am

UK Regulatory


 
TIDMLAS 
 
FOR IMMEDIATE RELEASE 
 
27 June 2017 
 
          London & Associated Properties PLC ("LAP" or the Company"): 
              Report on Payments to Governments for the year 2016 
 
LAP's main market quoted subsidiary company (a subsidiary under IFRS 10), 
Bisichi Mining plc ("Bisichi"), in which the Company owns 41.52% of Bisichi's 
issued ordinary share capital, together with its subsidiaries has issued the 
following report on Payments to Governments for the year ended 31 
December 2016. 
 
NTRODUCTION 
 
This Report provides an overview of the payments to governments made by Bisichi 
Mining plc and its subsidiaries for the year ended 31 December 2016 as required 
under the UK Reports on Payments to Governments Regulation 2014 and its 
amendment in December 2015 (the UK Regulations). This Report is also intended 
to satisfy the requirements of the Disclosure and Transparency Rules of the 
Financial Conduct Authority in the United Kingdom. 
 
BASIS OF PREPARATION 
 
Reporting entities 
 
This report includes payments to governments made by Bisichi Mining plc and its 
subsidiary undertakings (Bisichi Mining). Payments made by associates and 
entities over which Bisichi Mining has joint control are excluded from this 
report. 
 
Activities 
 
Payments made by Bisichi Mining to governments arising from activities 
involving the exploration, prospection, discovery, development and extraction 
of minerals (extractive activities) are to be disclosed in this report. 
 
Government 
 
Government includes any national, regional or local authority of a country, and 
includes a department, agency or entity that is a subsidiary of a government. 
 
Project 
 
Payments that are reported at project level except that payments that are not 
attributable to a specific project are reported at legal entity level. Project 
is defined as being the operational activities which are governed by a single 
contract, or licence agreement, and form the basis for payment liabilities with 
a government. 
 
If agreements of this kind are substantially interconnected (i.e. forming a set 
of operationally and geographically integrated contracts, licenses, leases or 
concessions) these are treated for the purposes of these Regulations as a 
single project. Indicators of integration include geographic proximity and 
common operational management. 
 
Payments 
 
The information is reported under the following payment types: 
 
Taxes 
 
These are any taxes paid by Bisichi Mining on its income and profits in 
accordance with legislation enacted in the applicable jurisdiction. Payments 
are reported net of refunds. Value added tax, personal income taxes, social 
taxes, property taxes are excluded. 
 
Royalties 
 
Royalties is any mining royalty payable in the Republic of South Africa. 
 
Fees 
 
These are any fees and other sums paid as consideration for acquiring a licence 
for gaining access to an area where extractive activities are performed. 
Administrative government fees that are not specifically related to the 
extractive sector are excluded. 
 
Infrastructure improvements. 
 
Payments in kind in the form of infrastructure expenditure other than in 
circumstances where the infrastructure is expected to be primarily dedicated to 
operational activities throughout its useful life. UK Regulations do not 
require reporting social or community payments, such as payments to build a 
hospital or a school. 
 
Other types of payments 
 
Other types of payments that are required to be disclosed in accordance with 
the UK Regulations but are not relevant to Bisichi Mining operations are the 
following: 
 
-           Production entitlements 
 
-           Dividends 
 
Including dividends paid to a government in lieu of production entitlements or 
royalties. Dividends paid to a government as an ordinary shareholder on the 
same terms as to other ordinary shareholders and not paid in lieu of production 
entitlements or royalties are excluded. 
 
-           Signature, discovery and production bonuses 
 
Payments are reported on a cash basis. No in-kind payments were made during 
year ended 31 December 2016. 
 
Materiality Level 
 
In line with the UK Regulations, where a payment or a series of related 
payments have not exceeded GBP86,000 they have not been disclosed. 
 
During the year ended 31 December 2016 no payments made by Bisichi Mining 
exceeded this amount. 
 
Exchange Rate 
 
Relevant payments are made by Bisichi Mining in South African Rand and for the 
purpose of this report are translated to UK Sterling using the annual average 
exchange rate for the period. 
 
PAYMENTS PER GOVERNMENT  1 
 
Government                                   Taxes Royalties Fees  Infrastructure Total 
                                                                     improvements 
 
Republic of South                              -         -    -               -     - 
Africa 
 
Total                                          -         -    -               -     - 
 
PAYMENTS PER PROJECT     1 
 
Entity                 Project    Country/   Taxes Royalties Fees  Infrastructure Total 
                                  Government                         improvements 
 
                                               -         -    -               -     - 
 
Black Wattle Colliery  Black      South        -         -    -               -     - 
(Pty) Ltd              Wattle     Africa 
 
Total                                          -         -    -               -     - 
 
 
 1. No payment during the period exceeded the GBP86,000 threshold. 
 
A copy of the report referred to above has been sent to the National Storage 
Mechanism and will shortly be available for viewing at www.morningstar.co.uk/uk 
/NSM 
 
                                     Ends 
 
For further information, please contact: 
 
Anil Thapar 
 
Company Secretary 
 
London & Associated Properties PLC 
 
Tel: 020 7415 5000 
 
 
 
END 
 

(END) Dow Jones Newswires

June 27, 2017 06:23 ET (10:23 GMT)

1 Year London & Associated Prop... Chart

1 Year London & Associated Prop... Chart

1 Month London & Associated Prop... Chart

1 Month London & Associated Prop... Chart

Your Recent History

Delayed Upgrade Clock