Goldplat plc Simplifying Group Structure to Reduce Group Costs (0239P)
15 February 2021 - 6:00PM
UK Regulatory
TIDMGDP
RNS Number : 0239P
Goldplat plc
15 February 2021
G ol dp lat plc / Ti cker: GDP / Index: AIM / Secto r: M in i ng
& E x p l o rati on
15 February 2021
Goldplat plc
( 'Goldplat', t he 'Group' or 'the Company ')
Simplifying Group Structure to Reduce Group Costs
G ol dp lat pl c, the AIM quoted g o ld p r o ducer, w ith
internati onal g o ld reco very o perati ons l o cated in South Afr
i ca and Ghana, is p leased to provide an update on the proposed
simplifying of the group structure to reduce the group costs. As
part of this exercise, the 74% holding of the Group in Goldplat
Recovery (Pty) Limited, the South African gold recovery operation,
("GPL") has been transferred from Gold Minerals Resources Limited
(the intermediate holding company) to Goldplat Plc.
This is part of a larger programme to remove the intermediate
holding company in the group, its associated administrative cost
and also to create an improved taxation structure. As a result of
the double tax treaty in place between the UK and South Africa,
dividends declared out of GPL to Goldplat will be taxed at a rate
of 5%, rather than the rate of 20% that applies between Guernsey
and South Africa.
We will keep the market updated as the restructure plan is
rolled out and completed.
Details of the previous and new group structure can be found on
the Goldplat website and here:
http://www.rns-pdf.londonstockexchange.com/rns/0239P_1-2021-2-14.pdf
Werner Klingenberg, CEO of Goldplat commented: "I am pleased to
report that we are progressing the restructuring programme to
optimize the value our shareholders can get from future cashflow
generated in the recovery operations."
For further i n fo rmat i on v i s it www .g o ld p lat.com, f o
l l ow on Twitter @GoldPlatPlc or contact:
Werner Klingenberg Goldplat plc Tel: +27 (0) 82 051 1071
(CEO)
Colin Aaronson / Harrison Grant Thornton UK LLP Tel: +44 (0) 20 7383 5100
Clarke/Seamus Fricker (Nominated Adviser)
James Joyce / Jessica Cave WH Ireland Limited Tel: +44 (0) 207 220 1666
(Broker)
Tim Thompson / Mark Edwards Flagstaff Strategic and Tel: +44 (0) 207 129 1474
/ Fergus Mellon Investor Communications goldplat@flagstaffcomms.com
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