Simplifying Group Structure to Reduce Group Costs

RNS Number : 0239P

Goldplat plc

15 February 2021

 

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

15 February 2021

Goldplat   plc

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

Simplifying Group Structure to Reduce Group Costs

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 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 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 UK Market Abuse Regulation. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

 

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