Horizon (HZN) has advised that they have the ATO ruling, and the 3cps recently given to shareholders has been classed as a Capital Return...

"Horizon Oil Limited

ABN 51 009 799 455

HORIZON – ATO CLASS RULING RECEIVED

Horizon (ASX: HZN) is pleased to confirm that the Australian Taxation Office has issued Class Ruling CR2021/77 (Class Ruling) in respect of the Australian income tax implications of the:

• A$47.4 million capital return (3 cents (AUD) per share) paid on 23 August 2021 to Horizon shareholders who held Horizon shares on 16 August 2021, following shareholders’ approval at its 10 August 2021 Extraordinary General Meeting (EGM).

The Class Ruling confirms the tax implications for Australian shareholders as disclosed in the Revised Notice of Extraordinary General Meeting dated 23 July 2021 and issued to shareholders for the purposes of the EGM. Importantly, the ruling confirms that no part of the return of capital payment will be treated as a dividend for Australian income tax purposes.

A copy of the Class Ruling is available on the Horizon EGM microsite at https://www.edocumentview.com.au/HZN2021 and is also available on Horizon’s website at https://horizonoil.com.au/wp-content/uploads/Class-Ruling-HZN-Return-of-Capital-2021-077.pdf. Shareholders may wish to have regard to the Class Ruling when submitting their tax returns in respect of the financial year ended 30 June 2022."