Business
Share buy-back programme
Share buy-back programme.
About this update from Goldplat Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3074G\n Goldplat plc\n 29 March 2022\n \n \n \n \n \n \n \n \n \n \n \n G\n oldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration\n \n \n \n \n \n 29 March 2022\n \n \n \n \n \n \n \n \n \n Goldplat\n \n \n \n plc\n \n \n \n (\n \n \n 'Goldplat',\n \n \n t\n \n \n he\n \n \n \n 'Group'\n \n \n or\n 'the\n \n \n Company')\n \n \n \n \n Share buy-back programme\n \n \n \n \n \n \n \n \n G\n oldplat plc, the AIM listed gold producer, with international gold recovery operations located in South Africa and Ghana, is pleased to announce the \n launch of a share buy-back programme (the \"Programme\").\n \n \n \n \n \n As previously announced, with the changes in strategy of the business to focus on the recovery operations, the intention of the Board is to distribute free cashflow generated in these operations back to shareholders, subsequent to regular reviews of capital allocations to optimise long-term returns for shareholders. The Board considered returning value to shareholders either through dividends or as a share buy-back. It is the Board's opinion that the Company's shares currently trade at significant discount to its intrinsic value per share, despite the strong operational and financial momentum of the business. The Board therefore believes 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.\n \n \n \n \n \n Accordingly, the Company today announces the commencement of the Programme, for the repurchase of its ordinary shares of one penny each (\"Ordinary Shares\") of up to a total value of £200,000. The Programme can commence from the date of this announcement and will expire at 30 June 2022, or when shares to the value of £200,000 have been bought back, if earlier. The Company has an arrangement with WH Ireland Limited (\"WH Ireland\") ...