(Tiper Stock Exchange) – Portobello received notification today’s date of a preventive seizure order issued by the Public Prosecutor’s Office at the Ordinary Court of Milan on the subject sums of money (credit balances) on existing relationships at credit institutions working with the Company. The seizure has as its object total sums of over 9.7 million of Euro.
the aforementioned kidnapping originates from a tax audit conducted by the Revenue Agency of Milan relating to the tax periods 2017-2020 which ended with a report of findings (PVC) which the company had already reported on the occasion of the financial statements as at 31 December 2022 and with respect to which Portobello has established for several months with the Revenue Agency a tax assessment procedure.
The Company immediately took action in order to promptly report the progress of the constant and frequent cases to the investigating prosecutor discussions with the Revenue Agency aimed at defining this procedure in the shortest possible time. Portobello anticipates that will ask for revocation of the same seizure order “in the belief that it has always operated with the utmost correctness, promptness and determination and having already done so in a prudential way (demonstrating its willingness to reach in the short term a shared definitional solution with the Revenue Agency) to file on a special escrow current account an amount of around 4 million, corresponding – in the opinion of the Company’s consultants – to a sum deemed adequate to cover the potential liabilities deriving from the definition of the procedure”.
Appropriate investigations are currently underway regarding any implications deriving from the aforementioned seizure order, in any case the Company does not see any significant effects on its corporate operations. Portobello will provide timely updates on the evolution and outcomes of ongoing activities.