Mongolia Energy (00276) Seeking Legal Advice and Considering Appeal Against Judgment

Stock News
01/09

Mongolia Energy (00276) has issued an announcement stating that on January 5, 2026, representatives from MoEnCo attended a hearing at the Mongolian Administrative Court regarding MoEnCo's claim against a tax ruling issued by the Tax Dispute Resolution Committee. According to the committee's ruling, MoEnCo is required to pay a total reassessed tax amount of 412.3 billion Mongolian Tugrik for the tax periods spanning 2017 to 2020. The hearing lasted only one day, and the court delivered an oral judgment in favor of the Tax Dispute Resolution Committee, dismissing MoEnCo's claim. Depending on the court's workload, a detailed written judgment is expected to be provided within fourteen days from the hearing date. MoEnCo retains the right to appeal the judgment within fourteen days of receiving the written judgment. The Group is currently seeking legal advice and is considering an appeal against the judgment. The Company will closely monitor the developments and will issue further announcements as and when appropriate to keep shareholders and potential investors informed of any progress in a timely manner.

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