Golden Prospect Precious Metals Ltd. (LSE:GPM) announces a share repurchase program. Under the program, the company will repurchase up to 15% of its issued subscription share capital. The minimum price (exclusive of expenses) which may be paid for the subscription shares is £0.001 per share.

The maximum price (exclusive of expenses) payable by the company which may be paid for the subscription shares shall be 5% above the average of the middle market quotations taken from the AIM appendix to the London Stock Exchange Daily Official List on each of the five business days before the purchase is made. The purchase price may be paid by the company out of distributable profits or out of capital and share premium or otherwise to the fullest extent permitted by The Companies ( Financial Assistance for Acquisition of own Shares) Ordinance, 1998. The company may make a contract to purchase its own shares under that authority hereby conferred prior to the expiry of such authority which will or may be executed or wholly or partly executed after the expiry of such authority, and may make a purchase of its own shares in pursuance of any such contract.

The program will be valid till the next Annual General Meeting in 2015, or after 15 months, whichever is earlier.