Goldplat plc Update on Sale of Kilimapesa (1988K)

TIDMGDP

RNS Number : 1988K

Goldplat plc

31 August 2021

G ol dp lat plc / Ti cker: GDP / Index: AIM / Secto r: M in i ng & E x p l o rati on

31 August 2021

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

Update on the Consideration Receivable for the Sale of Kilimapesa Gold (Pty) Limited ('Kilimapesa')

G ol dp lat pl c, the AIM quoted g o ld p r o ducer, w ith internati onal g o ld reco very o perati ons l o cated in South Afr i ca and Ghana, is pleased to provide an update on the consideration receivable on the sale of Kilimapesa to Mayflower Gold Investments Limited ('Mayflower Gold').

Subsequent to the Company's announcement on, 20 August 2021, Papillon Holdings plc, renamed as Caracal Gold plc ("Caracal") announced that today, 31 August 2021, at 08:00, its ordinary shares commenced trading on the Main Market for listed securities of the London Stock Exchange plc ('LSE') under the ticker GCAT with a contemporaneous dual listing on the Frankfurt Stock Exchange, following completion of the reverse takeover of Mayflower Gold.

Goldplat has received 103,846,154 shares in Caracal (representing 7.17% of its issued share capital) as consideration for the sale of Kilimapesa, to be held for minimum of 12 months. In addition, the Group is due to receive a further cash payment of USD450,000 in the next two weeks and is also entitled to a 1% net smelter royalty, limited to USD1,500,000, of which circa USD14,000 is already payable.

Werner Klingenberg, CEO of Goldplat commented: "I am pleased to announce the completion by Caracal of the reverse takeover of Mayflower Gold and Caracal commencing trading on the LSE's Main Market, which is the last step in the transaction which included the sale of Kilimapesa Gold.

For further i n fo rmat i on v i s it www .g o ld p lat.com, f o l l ow on Twitter @GoldPlatPlc or contact:

 
 Werner Klingenberg            Goldplat plc               Tel: [phone] 
                                (CEO) 
 Colin Aaronson / George       Grant Thornton UK LLP      Tel: [phone] 
  Grainger                      (Nominated Adviser)        5100 
 Jessica Cave / Lydia          WH Ireland Limited         Tel: [phone] 
  Zychowska                     (Broker)                   1666 
 Tim Thompson / Mark Edwards   Flagstaff Strategic and    Tel: [phone] 
  / Fergus Mellon               Investor Communications    1474 
                                                           [e-mail] 
 

Th e i n formati on co ntai ned w ith in t h is ann oun cement is deemed to const itute in s ide i nf o rma t i on as st ipu lated under the Market Abu se Regulati on (EU No. 596/2014) which is part of UK law by virtue of the European Union (withdrawal) Act 2018. Up on the pub l ication of this ann o u ncement, this in s i de i n fo rmati on is now c o n s i dered to be in the pub l ic domain.

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August 31, 2021 03:33 ET (07:33 GMT)