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11 Mar 2021 | 11:28

Kenyan authorities approve Goldplat sale of Kilimapesa

(Sharecast News) - South Africa and Ghana-focussed gold producer Goldplat updated the market on the sale of the Kilimapesa Gold Mine in Kenya on Thursday, confirming that it had received consent for the sale. The AIM-traded firm said it had been notified by Mayflower Capital Investments that consent to the proposed acquisition of Kilimapesa by Mayflower Gold Investments, a subsidiary of Mayflower Capital, had been provided by the Kenyan Ministry of Petroleum and Mining.

Additionally, the Competition Authority of Kenya had also confirmed that the proposed acquisition had been declared excluded from the relevant provisions of the Competition Act.

Receipt of the consent and confirmation of the exclusion constituted the satisfaction of key conditions to the completion of the transaction, the Goldplat board said.

"I am pleased to report these positive developments in the sale of Kilimapesa, specifically the consent to the acquisition of Kilimapesa received by the Ministry for Petroleum and Mining," said chief executive officer Werner Klingenberg.

"Together with the confirmation received from the Competition Authority, it puts all parties in a good position to complete the transaction."

At 1525 GMT, shares in Goldplat were up 5.07% at 7.25p.
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