UK Supreme Court rules on the Aimia UK VAT case
MONTREAL, March 13, 2013 /CNW Telbec/ – Aimia Inc, (TSX: AIM) announced
that it has been notified of the ruling on its outstanding Value Added
Tax (VAT) litigation. The ruling was issued this morning by the UK
Supreme Court.
Whilst the ruling is in our favour, the Supreme Court has asked for
further submissions from both Aimia and the HMRC (the Commissioners).
The judgment as per the press summary of the Supreme Court is as
follows:
The Supreme Court by a majority of three to two (Lord Wilson and Lord
Carnwath dissenting) is minded to dismiss the Commissioners’ appeal,
but invites the parties to file written submissions as to the precise
form of the order to be made. Lord Reed gives the lead judgment for the
majority.
We are reviewing this with our advisors and are unable to make a final
determination of the effect on Aimia at this time and therefore we are
not in a position to provide any further comment.
About Aimia
Aimia Inc. (“Aimia”) is a global leader in loyalty management. Employing
more than 4,000 people in over 20 countries worldwide, Aimia offers
clients, partners and members proven expertise in launching and
managing coalition loyalty programs, delivering proprietary loyalty
services, creating value through loyalty analytics and driving
innovation in the emerging digital, mobile and social communications
spaces.
Aimia owns and operates Aeroplan, Canada’s premier coalition loyalty
program and Nectar, the United Kingdom’s largest coalition loyalty
program. In addition, Aimia owns stakes in Air Miles Middle East,
Nectar Italia, Mexico’s leading coalition loyalty program Club Premier,
Brazil’s Prismah Fidelidade, and i2c, a joint venture with Sainsbury’s
offering insight and data analytics services in the UK to retailers and
suppliers. Aimia also holds a minority position in Cardlytics, a
US-based private company operating in transaction-driven marketing for
electronic banking. Aimia is listed on the Toronto Stock Exchange (TSX:
AIM). For more information, visit us at www.aimia.com
SOURCE: AIMIA
Contact:
Media
Krista Pawley
416-352-3794
krista.pawley@aimia.com
Megan Ratcliffe
011442071524881
Megan.ratcliffe@aimia.com