Goldplat PLC (LON:GDP) has issued an application out of the High Court of South Africa, Gauteng Local Division, Johannesburg, for the recovery of money owed to it by Rand Refinery Limited.
It’s a long-running dispute that dates back to a more troubled period in Goldplat’s history. Goldplat has long since re-worked its corporate model to avoid such disputes in future.
"We are disappointed that we have been unsuccessful in our efforts to resolve this dispute without reverting to legal action, but we remain confident of full recovery of the amounts owed to Goldplat Recovery Limited,” said Goldplat chief executive Gerard Kisbey-Green in a statement.
“The company will keep shareholders informed of progress. Notwithstanding this action, the company reiterates its announcement of 27 July 2017 where we highlighted that Goldplat has traded above market expectations for the year ended 30 June 2017, and accordingly it remains "business as usual" despite this dispute.
"The company will be publishing its annual financial results in September 2017."