Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration

11 April 2022

     Goldplat plc

          ('Goldplat', the 'Group' or 'the Company')

Extension of Share buy-back programme

Goldplat plc, the AIM listed gold producer, with international gold recovery operations located in South Africa and Ghana, is pleased to announce the extension of its share buy-back programme (the "Programme").

Following the successful completion on 8 April 2022 of the share buy-back programme initially announced on 29 March 2022, the Company has decided to extend the Programme for the repurchase of its ordinary shares of one penny each ("Ordinary Shares") for up to a further total value of £200,000.

The Board remains of the opinion that the Company's shares currently trade at a significant discount to their intrinsic value per share, despite the strong operational and financial momentum of the business, and therefore continues with the belief that share buybacks are an appropriate means of returning value whilst maximising sustainable long-term growth for shareholders, given the enhancement to net asset value, earnings and dividends per share that will result from reducing the number of shares in issue. The purpose of the Programme is therefore to reduce the issued ordinary share capital of the Company.

The Programme can commence from the date of this announcement and will expire at 30 June 2022, or when additional shares to the value of £200,000 have been bought back, if earlier.  The Company has an arrangement with WH Ireland Limited ("WH Ireland") to run and manage the Programme and WH Ireland will have full discretion in relation to the Programme, within the parameters set out below, and are entitled to make independent trading and commercial decisions regarding the Programme.

Any purchase of Ordinary Shares will be executed in accordance with the limits of the Company's general authority to

repurchase Ordinary Shares granted by its shareholders at the Company's 2021 Annual General Meeting on 31 December 2021 which are as follows:

·    The maximum price at which Ordinary Shares may be purchased shall be 5 percent above the average of the middle market quotations for the Ordinary Shares as taken from the Daily Official List of the London Stock Exchange for the five business days preceding the date of purchase and the minimum price shall be £0.01, being the nominal value of the Ordinary Shares; and

·    No more than 17,210,766 will be repurchased under the Programme.

It is intended that the Programme will be effected as far as possible in accordance with the Market Abuse Regulation 596/2014/EU (as in force in the UK and as amended by the Market Abuse (Amendment) (EU Exit) Regulations 2019). Given the level of liquidity in the Company's shares, Shareholders should be aware that a purchase of Ordinary Shares by the Company on any given trading day may represent a significant proportion of the daily trading volume in the Goldplat Ordinary Shares and could exceed 25 per cent of the average daily trading volume in the month preceding this announcement. The trading volume however will be limited to 250,000 shares.  

Under the terms of the agreement, WH Ireland will make purchases of the Shares under the buy-back programme independently of, and uninfluenced by, the Company. Purchases may continue during any closed period to which the Company is subject. The Company confirms that it currently has no unpublished inside information. 

All shares repurchased under the Programme will be held in treasury until the end of the Programme and then cancelled..

The Board will keep the Programme under review to make sure it continues as an efficient and effective means of generating value for shareholders. While the Company has launched the Programme, there is no certainty on the volume of shares that may be acquired under the Programme and the pace of acquisitions.

The Company will make further announcements in due course following the completion of any buyback of shares.

For further information visit www.goldplat.com, follow on Twitter @GoldPlatGDP or contact:

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.