Endeavour Mining Acquires Own Shares to Strengthen Position
Endeavour Mining Announces Share Acquisition
Endeavour Mining plc (LSE:EDV, TSX:EDV) has taken a significant step by purchasing its own shares through the investment firm Stifel Nicolaus Europe Limited. This strategic move emphasizes the company's commitment to enhancing shareholder value.
Details of the Share Purchase
The recent transaction involved an aggregate purchase of 14,384 ordinary shares at varying prices. The lowest price per share was 2,270.00 GBP, while the highest reached 2,274.00 GBP. This strategic buyback forms part of the company's broader effort to consolidate its market position and promote long-term growth.
Aggregated Information
The shares were purchased on June 20, with a volume-weighted average price of 2,272.26 GBP. Following the cancellation of these shares, Endeavour Mining will have 241,885,962 ordinary shares outstanding, directly influencing the total voting rights shareholders hold.
Investment Strategy and Buyback Program
This share purchase is a continuation of Endeavour's buy-back program first announced in March 2024. The decision to repurchase shares reflects management's confidence in the company’s operational efficiencies and growth prospects.
Future Implications for Shareholders
By reducing the number of shares available in the market, Endeavour Mining aims to boost the earnings per share (EPS) and enhance shareholder returns, ultimately positioning itself more favorably amidst competitive market conditions.
Key Contact Information
For Investor Relations:
Jack Garman
Vice President of Investor Relations
+44 203 011 2723
investor@endeavourmining.com
For Media Enquiries:
Brunswick Group LLP
Carole Cable, Partner
+44 207 404 5959
ccable@brunswickgroup.com
About Endeavour Mining
Endeavour Mining is renowned as one of the top producers of gold globally and holds a substantial presence in West Africa. The company operates mining facilities in countries like Senegal, Côte d'Ivoire, and Burkina Faso, and boasts a promising portfolio of exploration and development projects within the Birimian Greenstone Belt.
As a member of the World Gold Council, Endeavour Mining is dedicated to responsible mining practices and focuses on its sustainability efforts to bring value to its stakeholders and local communities.
Frequently Asked Questions
What is the purpose of the share buyback by Endeavour Mining?
The share buyback aims to enhance shareholder value by reducing the number of shares in circulation, which can increase earnings per share.
How many shares were purchased in the transaction?
A total of 14,384 ordinary shares were purchased as part of this share acquisition.
What was the price range for the shares purchased?
The shares were acquired at prices ranging from 2,270.00 GBP to 2,274.00 GBP.
What is Endeavour Mining's position in the gold market?
Endeavour Mining is one of the leading gold producers and the largest in West Africa, with significant operating assets in several countries.
How can I reach Endeavour Mining for investor inquiries?
Investors can contact Jack Garman at +44 203 011 2723 or via email at investor@endeavourmining.com.
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