Information  X 
Enter a valid email address

Goldplat plc (GDP)

  Print          Annual reports

Monday 15 February, 2021

Goldplat plc

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: +27 (0) 82 051 1071

Colin Aaronson / Harrison Clarke/Seamus Fricker

 

Grant Thornton UK LLP

(Nominated Adviser)

Tel: +44 (0) 20 7383 5100

 

James Joyce / Jessica Cave

 

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

[email protected]

 

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.

 

 

 

 

 

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 [email protected] 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
 
 
MSCUSUWRASUUAAR

a d v e r t i s e m e n t