Replacement - Net Asset Value(s)

Golden Prospect Precious Metals Ltd

04 December 2025

 

GENERAL TEXT AMENDMENT

The following amendments have been made to the Net Asset Value announcement released on 03/12/2025 at 16.37 under RNS No 1371K.

NAV per share - diluted*,bid basis

No of shares in issue (Current)

Share to be admitted (9 December)

*Notes relating to the NAV dilution

All other details remain unchanged.

The full amended text is shown below

Golden Prospect Precious Metals Limited

(the "Company")

Net Asset Value

Golden Prospect Precious Metals Limited (LSE: GPM) announces that as at the close of business on 02 December 2025 its unaudited net asset value ("NAV") per ordinary share ("Share") was as follows:

Date of announcement	03 December 2025
Date of NAV	02 December 2025
NAV per share - undiluted, bid basis	103.55 pence per share
NAV per share - diluted*, bid basis	103.55 pence per share
No of shares in issue (9 December)	107,834,428
Subscription Exercise Price 2026	104.63 pence per share
Next Subscription Date	1 December 2026

*Notes relating to the NAV dilution

The dilution is in relation to the effect of the Company's embedded annual Subscription Right. Shareholders should note that the dilution refers to the NAV per share dilution, not to the dilution of Shareholders' holdings in the Company. All Shareholders have the right to take up their subscription rights on 1 December in each year (the "Record Date") and those who do take them up in full don't have their percentage holding in the Company diluted. For those investors who don't take up their subscription rights, the Company endeavours to place in the market the shares that they were entitled to subscribe for, and then return the net sale proceeds to those investors as a way to deliver to them as much as possible of the value of their subscription rights, therefore reducing the dilution effect of not subscribing.

The net asset values as at today's date includes the issue of 14,585,929 new Ordinary shares arising from the 2025 Subscription Rights exercise.

The calculation for the fully diluted NAV per share assumes that the maximum number of shares the Company can issue is 21,566,885 based on the subscription exercise price of 104.63p on 30 November 2026. Please note that the maximum shares that can be issued and the NAV dilution are only current estimates. Any further amendments to the dilution calculation will be communicated in subsequent NAV announcements.

About the annual Subscription Right

Shareholders have the right to subscribe for one new Ordinary Share for every five Ordinary Shares held in the Company on the Record Date, as outlined in the circular published on 4 November 2022. The exercise price is equal to the undiluted NAV per share on 30 November one year prior. The aim of the programme is to enable to Company to grow through share issuance and it is subject to shareholder review at the annual general meeting ("AGM") in 2027 and at every fifth subsequent AGM thereafter.

Enquiries
Manulife | CQS Investment Management       Craig Cleland	[phone]
Cavendish Capital Markets Limited Robert Peel (Corporate Finance) Daniel Balabanoff / Pauline Tribe (Sales)	[phone] [phone]
Apex Fund and Corporate Services (Guernsey) Limited James Taylor	[phone]
Tavistock Jos Simson / Gareth Tredway / Ruairi Millar	[phone]

About Golden Prospect Precious Metals

Golden Prospect Precious Metals Limited is a closed-ended investment company incorporated with limited liability in Guernsey on 16 October 2006. The Company's investment objective is to provide Shareholders with capital growth from a portfolio of companies involved in the precious metals sector.

For the latest factsheet and other information, click here.

 

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