REG - Goldplat plc - Update on consideration receivable for Kilimapesa

GoldplatAnnouncement

19/07/2021 07:05

RNS Number : 6348F
  
Goldplat plc
  
19 July 2021
  
 

Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration
 
 
19 July 2021
 
Goldplat plc
('Goldplat', the 'Group' or 'the Company')
 
Update on the Consideration Receivable for the Sale of Kilimapesa Gold (Pty) Limited ('Kilimapesa')
 
 
Goldplat 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 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 information visit www.goldplat.com, follow on Twitter @GoldPlatPlc or contact:
 



Werner Klingenberg
 


Goldplat plc 
(CEO)
 


Tel: +27 (0) 82 051 1071




Colin Aaronson / George Grainger
 


Grant Thornton UK LLP
(Nominated Adviser)


Tel: +44 (0) 20 7383 5100
 




Jessica Cave / Jessica Cave/ Lydia Zychowska
 


WH Ireland Limited 
(Broker)
 


Tel: +44 (0) 207 220 1666
 




Tim Thompson / Mark Edwards / Fergus Mellon


Flagstaff Strategic and Investor Communications


Tel: +44 (0) 207 129 1474
goldplat@flagstaffcomms.com



 
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