GDP Goldplat Plc

TIDMGDP

RNS Number : 3027U

Goldplat plc

01 April 2021

G ol dp lat plc / Ti cker: GDP / Index: AIM / Secto r: M in i ng & E x p l o rati on

1 April 2021

   Goldplat   plc 
   ( 'Goldplat', t he   'Group' or 'the   Company ') 

Sale of the Kilimapesa Gold Mine - Transaction Update

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 pleased to provide an update relating to the sale of the Kilimapesa Gold Mine in Kenya (the 'Transaction').

The Company is pleased with the substantial progress that has been achieved over the past month in satisfying a number of key conditions of the Transaction. These include: receipt of government consent and approval of the Transaction; the execution by all parties of a formal Share Purchase Agreement ("SPA"); and the submission by Papillon Holdings Plc ("Papillon") of the prospectus to the Financial Conduct Authority ("FCA"), under which Mayflower Capital Investments Pty Limited ('Mayflower') will complete its reverse takeover of Papillon and complete the Transaction with the Group.

Given this progress and further to its announcement of 23 February 2021, the Company can confirm that the completion date of the Transaction has been changed from 31 March 2021 to 30 April 2021, subject to the following being completed by 20 April 2021:

-- The Financial Conduct Authority's ("FCA") review of Papillon's prospectus being finalised and the prospectus being lodged;

-- Papillon having released its Notice of Meeting for its shareholders to approve the transaction with Mayflower; and

-- The receipt of funding commitments as required by the SPA and the binding term sheet first announced on 31 July 2020 of a minimum of US$ 4 million;

Mayflower, Papillon and its advisors continue to engage with the FCA with respect to obtaining the final approval for the Prospectus.

Werner Klingenberg, CEO of Goldplat commented: "Mayflower and Papillon continue to progress towards Papillon achieving its planned re-admission to the Official List and Goldplat continues to be very supportive and looks forward to completion of the Transaction by the end of April 2021."

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 
  Clarke/Seamus Fricker         (Nominated Adviser)        5100 
 James Joyce / Jessica         WH Ireland Limited         Tel: +44 (0) 207 220 
  Cave                          (Broker)                   1666 
 Tim Thompson / Mark Edwards   Flagstaff Strategic and    Tel: +44 (0) 207 129 
  / Fergus Mellon               Investor Communications    1474 
                                                           goldplat@flagstaffcomms.com 
 

Th e i n formati on co ntai ned w ith in t h is ann oun cement is deemed to const itute in s ide i nf o rma t i on as st ipu lated under the Market Abu se Regulati on (EU No. 596/2014) which is part of UK law by virtue of the European Union (withdrawal) Act 2018. Up on the pub l ication of this ann o u ncement, this in s i de i n fo rmati on is now c o n s i dered to be in the pub l ic domain.

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