Top Shelf Resolves ATO Debt Issue

Top Shelf International Holdings Ltd (TSI) has announced the dismissal of winding-up proceedings initiated by the Australian Taxation Office (ATO) against its subsidiary, Top Shelf International Pty Ltd (TSI PL). This development follows TSI PL’s full payment of its historical excise debt. The company had previously informed the ASX about these proceedings on November 1, 2024, January 24, 2025, February 3, 2025, and February 25, 2025. The ATO’s action in the Federal Court of Australia aimed to liquidate TSI PL due to the unpaid debt. The successful resolution removes a significant financial overhang for Top Shelf. This allows management to focus on the company’s core business of distilling and marketing premium Australian spirits, including brands such as NED Australian Whisky, Grainshaker Hand Made Australian Vodka, and Act of Treason Australian Agave. TSI is also developing Australia’s first agave spirit range from its agave farm and distillery in the Whitsundays, Queensland.