Allocation of acquisition cost
9 June 2017
The allocation of the acquisition cost for shares as a result of Lundin Petroleum AB’s (“Lundin Petroleum”) distribution of shares in International Petroleum Corporation (“IPC”) has been determined to be 92.5 percent for Lundin Petroleum shares and 7.5 percent for IPC shares.
Lundin Petroleum completed in April 2017 the distribution of all of the Company’s shares in IPC to its shareholders. Each three shares in Lundin Petroleum entitled the holder to one common share in IPC. The last day of trading with the right to participate in the dividend was 18 April 2017 and the first day of trading excluding the right to participate in the dividend was 19 April 2017. The record date to receive shares in IPC was 20 April 2017 and the distribution occurred on 24 April 2017.
The Swedish Tax Agency has in a letter reply considered that the requirements for treating the distribution in accordance with the so-called Lex ASEA-rules have been met. The distribution shall in such case not be taxed in Sweden. The acquisition cost for shares in Lundin Petroleum shall instead be divided between Lundin Petroleum shares and the shares received in IPC.
The Swedish Tax Agency has issued general advice regarding the allocation of the acquisition cost and has determined that 92.5 percent of the acquisition cost for shares in Lundin Petroleum shall be allocated Lundin Petroleum shares and 7.5 percent to shares received in IPC. The general advice applies as of the fiscal year 2017.
The Swedish Tax Agency’s general advice SKV A 2017:5 and notice SKV M 2017:4 are available (in Swedish) on the Swedish Tax Agency’s website www.skatteverket.se.
Lundin Petroleum is one of Europe’s leading independent oil and gas exploration and production companies with operations focused on Norway and listed on NASDAQ Stockholm (ticker “LUPE”). Read more about Lundin Petroleum’s business and operations at www.lundin-petroleum.com
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