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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Centamin Plc | LSE:CEY | London | Ordinary Share | JE00B5TT1872 | ORD NPV (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.90 | 0.73% | 125.00 | 125.40 | 125.60 | 126.90 | 124.60 | 124.90 | 4,950,253 | 16:35:06 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Metal Mining Services | 891.26M | 92.28M | 0.0797 | 15.76 | 1.45B |
TIDMCEY
RNS Number : 7115C
Centamin PLC
30 June 2016
For immediate release 30 June 2016
Centamin plc ("Centamin" or "the Company")
(LSE:CEY, TSX:CEE)
Report on Payments to Governments
Background
This report provides an overview of the payments the Company and its subsidiaries have made to governments during the year ended 31 December 2015, as required by the Reports on Payments to Governments Regulations 2014 as amended (the Regulations) and DTR 4.3A.
This table has been prepared in accordance with the categories and requirements in the Regulations, as further detailed in the footnotes.
Payments to governments made during the year ended 31 December 2015
Type of Notes Egypt Burkina Cote Ethiopia Total payment Faso d'Ivoire ---------------- ------- ----------- -------- ---------- --------- ----------- US$ US$ US$ US$ US$ ---------------- ------- ----------- -------- ---------- --------- ----------- Advance on profit share (i) 5,000,000 5,000,000 ---------------- ------- ----------- -------- ---------- --------- ----------- Corporate taxes (ii) 8,195 8,195 ---------------- ------- ----------- -------- ---------- --------- ----------- Royalties (iii) 15,836,592 15,836,592 ---------------- ------- ----------- -------- ---------- --------- ----------- Exploration licence fees 29,453 10,071 21,074 60,598 ------------------------- ----------- -------- ---------- --------- ----------- Mining and other licence fees 221,470 662,250 883,720 ------------------------- ----------- -------- ---------- --------- ----------- Infrastructure improvements (iv) 1,095,868 1,095,868 ---------------- ------- ----------- -------- ---------- --------- ----------- Total (v) 22,162,125 691,703 10,071 21,074 22,884,973 ---------------- ------- ----------- -------- ---------- --------- -----------
(i) With a view to demonstrating goodwill towards the Egyptian government, Centamin (through its subsidiary PGM), has to date made advance payments to the Egyptian Mineral Resources Authority (EMRA) totalling US$28,750,000. US$5,000,000 was made during the 31 December 2015 calendar year. These payments will be netted off against future profit share with EMRA. The net operating revenue surplus, after royalty and cost recovery ("Profit Share") will be split 50:50 between PGM and EMRA, with an additional 10% of proceeds paid to PGM in the first two years of Profit Share and an additional 5% in the following two years. It is expected that there will be Profit Share for the Sukari Gold Mine financial year ending 30 June 2017 based on budgeted production, operating expense forecasts and gold price.
(ii) In accordance with the Regulations, this figure excludes taxes levied on consumption such as VAT, personal income or sales taxes.
(iii) Payable to the Egyptian government. (iv) Construction of power plant and equipment in Marsa Alam, Egypt.
(v) Other types of payments that are required to be disclosed in accordance with the Regulations include production entitlements; signature, discovery and production bonuses; and dividends. The Company and its subsidiaries did not make any such payments to governments during the year.
This report is available on the Company's website at www.centamin.com/investors/regulatory-news.
Centamin remains committed to increasing its capital investment in the regions in which it operates to ensure that all stakeholders continue to benefit from its operations.
For more information please contact:
Centamin plc Buchanan Josef El-Raghy, Chairman Bobby Morse Andrew Pardey, Chief Executive Officer + 44 (0) 20 7466 Andy Davidson, Head of Investor 5000 Relations (andy.davidson@centamin.je) +44 (0) 1534 828708
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
June 30, 2016 02:00 ET (06:00 GMT)
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