Goldplat launches share buyback programme
Aim-listed Goldplat, which owns gold recovery operations in South Africa and Ghana, has launched a share buyback programme, with the purpose of reducing the issued ordinary share capital of the company.
The board believes share buybacks are an appropriate means of returning value, while maximising sustainable long-term growth for shareholders, given the enhancement to net asset value, earnings and dividends a share that will result from reducing the number of shares in issue.
The programme is for the repurchase of its ordinary shares of 1p each up to a total value of £200 000.
The programme will start immediately and will expire at June 30, or when shares to the value of £200 000 have been bought back, if earlier.
Goldplat has an arrangement with WH Ireland to run and manage the programme.
Under the terms of the agreement, WH Ireland will make purchases of the shares under the buyback programme independently of, and uninfluenced by, the company.
All shares repurchased under the programme will be cancelled.
The board says it will keep the programme under review to ensure it continues as an efficient and effective means of generating value for shareholders.
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