AMBR.L Regulatory News (AMBR)

22 May 2006 07:01

Golden Prospect PLC22 May 2006 GOLDEN PROSPECT PLC Share Repurchase Programme Golden Prospect plc ("Golden Prospect" or "the Company") announces that it hascommenced a programme to buy back Ordinary Shares from 22 May 2006. The OrdinaryShares will be held in treasury, or cancelled. Approval was given at Golden Prospect's Annual General Meeting held on 21 April2006 to buy back up to 11,000,000 Ordinary Shares (representing approximately 10per cent of the issued share capital). There are at present no Ordinary Sharesheld in treasury. Golden Prospect's businesses continue to perform well. The approximate combinedvalue, on an unaudited basis, of the Company's listed investments plus net cash(£11.8 million) was £58.4 million at 18 May 2006 or 55p per Ordinary Shareoutstanding. Ambrian Partners Limited, the 100% owned corporate finance andstockbroking subsidiary, has enjoyed a strong start to the year and has acted ascorporate broker to nine AIM flotations and secondary placings. At the beginning of April 2006 Golden Prospect launched Ambrian CommoditiesLimited, an Associate Broker member of The London Metal Exchange, which hasalready begun to make a valuable earnings contribution. Concurrently AmbrianAsset Management Limited is making progress towards the launch of a specialistprecious metals fund. About Golden Prospect Golden Prospect is a natural resources investment bank quoted on the AlternativeInvestment Market of the London Stock Exchange (AIM: GOL). The Company is anactive investor in the natural resources sector. Ambrian Partners Limited, awholly owned subsidiary of Golden Prospect, provides corporate finance andstockbroking services to the global resources sector (including, oil & gas,mining, soft commodities and renewable energies). Ambrian Commodities Limited isan Associate Broker member of The London Metal Exchange and is a broker dealerof LME traded metals and plastics. Further information on Golden Prospect isavailable on the Company's website: www.goldenprospectplc.com. Enquiries: Tom Gaffney Tel: +44 (0)20 7776 6400Chief ExecutiveGolden Prospect plc Cathy Malins / Annabel Leather Tel: +44 (0)20 7493 3713Parkgreen Communications This information is provided by RNS The company news service from the London Stock Exchange