| 18/03/2015 :Taxation Advice Update | |
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FACSIMILE TRANSMITTAL
ASX Announcement
18 March 2015
Taxation Advice Update
Copper Strike Limited (ASX: CSE, "Copper Strike" or "the Company") is pleased to advise that further to its announcement to the Australian Securities Exchange on 30th October 2014 entitled "Value of CSE's investments in SYR", and the updates provided in its September
2014 and December 2014 Quarterly Activities Reports, the Company advises that it has now received written confirmation from the Australian Taxation Office in regards to the issue of generating and utilising franking credits from the proceeds of a potential disposal of its Syrah shares.
For the Company to generate sufficient franking credits in order to pay a fully franked dividend the Company must:
i) dispose of the Syrah shares in the income tax year prior to the income tax year that it franks a dividend; and
ii) return the proceeds as cash and not as an in-specie distribution.
The Company believes that all investors should be given the opportunity to understand the possible taxation consequences of a potential future disposal of the Syrah shares. Copper Strike believes that a franked dividend would be in the best interest of all shareholders.
The Company would like to reiterate that there are no plans to sell or otherwise dispose of the Syrah shares at this time.
Yours faithfully
Tom Eadie
Chairman
COPPER STRIKE LIMITED
Registered Office
Copper Strike Limited ABN 16 108 398 983
Level 9 - 356 Collins Street Melbourne Victoria 3000 Australia
Ph 03 96400955 Fax 03 96420698 email [email protected]
www.copperstrike.com.au
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Copper Strike Limited
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DEVELOPMENT STAGE |
CODE : CSE.AX |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Copper Strike is a copper exploration company based in Australia. Copper Strike develops copper, lead and zinc in Australia, and holds various exploration projects in Australia. Its main asset in development is EINASLEIGH AREA in Australia and its main exploration properties are WALFORD CREEK, LAKE MARGARET / LINDA and KAMARGA in Australia. Copper Strike is listed in Australia. Its market capitalisation is AU$ 16.6 millions as of today (US$ 10.8 millions, € 10.1 millions). Its stock quote reached its lowest recent point on July 23, 2010 at AU$ 0.01, and its highest recent level on June 10, 2016 at AU$ 0.52. Copper Strike has 106 840 000 shares outstanding. |