Endeavour Mining Completes Share Buyback Transaction
Endeavour Mining Announces Share Buyback Transaction
Endeavour Mining plc (LSE:EDV, TSX:EDV) recently made headlines by announcing a noteworthy transaction involving the repurchase of its ordinary shares. This strategic move not only reflects the company's commitment to enhancing shareholder value but also marks a crucial step in its ongoing share buyback program.
Details of the Share Buyback
This buyback involved the acquisition of a total of 13,000 ordinary shares at varying price points, demonstrating Endeavour Mining's proactive approach to optimizing its capital structure. The transaction executed by an investment firm, Stifel Nicolaus Europe Limited, included both the lowest and highest share prices within the specified trading window.
Share Purchase Breakdown
The shares were purchased at a price range of 1,611.00 to 1,625.00 GBp, with an average price of 1,615.12 GBp. Following the cancellation of the repurchased shares, it is expected that the total number of ordinary shares in issue will stand at 244,552,525. Shareholders can utilize this figure as a reference point for any necessary notifications regarding their interest in the company.
Voting Rights and Transparency
This transaction is particularly significant as it impacts the voting rights within the Company. With a total of 244,552,525 shares in issue, this figure serves as the denominator for shareholders calculating their required notifications under the FCA's Disclosure Guidance and Transparency Rules.
Impact on Shareholder Value
The share buyback is a strategic component of Endeavour's ongoing commitment to shareholder value. Announced initially on March 20, 2024, the program aims to return capital to shareholders while enhancing the value of remaining shares. This initiative aligns with senior mining companies' best practices and shareholder expectations for a transparent and accountable buyback process.
Future Prospects
Endeavour Mining remains focused on its operational excellence and commitment to responsible mining practices. As a prominent gold producer in West Africa, the company is well-positioned to benefit from gold market dynamics while delivering sustainable value through its development and exploration efforts. With advanced projects and a strong commitment to community engagement, Endeavour Mining is not just focused on current operations but also on future growth and sustainability.
Contact Information
For any inquiries regarding investor relations, please contact:
Jack Garman
Vice President of Investor Relations
+44 203 011 2723
investor@endeavourmining.com
For media inquiries:
Carole Cable, Partner
Brunswick Group LLP in London
+ 44 207 404 5959
ccable@brunswickgroup.com
Frequently Asked Questions
What is Endeavour Mining's recent transaction?
Endeavour Mining announced the purchase of 13,000 ordinary shares as part of its buyback program.
Who conducted the share buyback?
The share buyback was conducted by Stifel Nicolaus Europe Limited on behalf of Endeavour Mining.
What were the price ranges for the shares purchased?
The shares were purchased at prices between 1,611.00 to 1,625.00 GBp.
How many shares are now in issue after the transaction?
Following the cancellation of the repurchased shares, there will be a total of 244,552,525 ordinary shares in issue.
Why is the buyback significant?
The buyback is significant as it aims to boost shareholder value and optimize the company's capital structure.
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