TIDMGDP

RNS Number : 6348F

Goldplat plc

19 July 2021

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

19 July 2021

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

Update on the Consideration Receivable for the Sale of Kilimapesa Gold (Pty) Limited ('Kilimapesa')

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 on the consideration receivable on the sale of Kilimapesa to Mayflower Gold Investments Limited ('Mayflower Gold').

As announced on 26 April 2021, the initial consideration receivable by Gold Mineral Resources Ltd, Goldplat's subsidiary, is in the form of a secured debenture of USD1,500,000, to be satisfied by cash and/or the issue of shares to that value in Papillon Holdings plc ('Papillon'), payable on Papillon's re-admission to trading on the London Stock Exchange ('LSE') following completion of its proposed reverse takeover of Mayflower Gold, with 30% (USD450,000) of the initial consideration payable in cash. In the event that Papillon was not re-admitted to trading on the LSE by 16 July 2021, the full initial consideration of USD1,500,000 would become payable in cash and attract interest of 4% with effect from 1 January 2021.

Goldplat has provided Mayflower Gold and Papillon an extension to 23 August 2021 to complete the re-admission to trading on the LSE.

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 / George       Grant Thornton UK LLP      Tel: +44 (0) 20 7383 
  Grainger                      (Nominated Adviser)        5100 
 Jessica Cave / Jessica        WH Ireland Limited         Tel: +44 (0) 207 220 
  Cave/ Lydia Zychowska         (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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

UPDUKOVRABUBARR

(END) Dow Jones Newswires

July 19, 2021 02:00 ET (06:00 GMT)

Goldplat (LSE:GDP)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Goldplat Charts.
Goldplat (LSE:GDP)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Goldplat Charts.