Update on Sale of Kilimapesa

RNS Number : 3027U

Goldplat plc

01 April 2021

 

G oldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration

1 April 2021

Goldplat   plc

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

Sale of the Kilimapesa Gold Mine - Transaction Update

G oldplat plc, the AIM quoted gold producer, with international gold recovery operations located in South Africa 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 information visit www.goldplat.com, follow on Twitter @GoldPlatPlc or contact:

Werner Klingenberg	Goldplat plc (CEO)	Tel: [phone]
Colin Aaronson / Harrison Clarke/Seamus Fricker	Grant Thornton UK LLP (Nominated Adviser)	Tel: [phone]
James Joyce / Jessica Cave	WH Ireland Limited (Broker)	Tel: [phone]
Tim Thompson / Mark Edwards / Fergus Mellon	Flagstaff Strategic and Investor Communications	Tel: [phone] [e-mail]

Th e information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU No. 596/2014) which is part of UK law by virtue of the European Union (withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

 

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