Endeavour Mining's Strategic Share Buy-Back Plan Unveiled
Endeavour Mining's Recent Share Purchase Announcement
Endeavour Mining plc (LSE:EDV, TSX:EDV) has taken a significant step in enhancing shareholder value by announcing its latest share buy-back initiative. The Company has successfully purchased a total of 46,000 ordinary shares, following transactions facilitated by Stifel Nicolaus Europe Limited.
Transaction Overview
This recent purchase reflects Endeavour's ongoing commitment to its buy-back program, which was first revealed to the public in March. The details of the transaction are structured to optimize the company’s financial strategy while benefiting shareholders.
Purchase Details
The share acquisition took place on February 7, 2025, with the following notable pricing details:
- Lowest price per share achieved: 1,700.00 GBp
- Highest price per share achieved: 1,733.00 GBp
- Volume-weighted average price paid: 1,721.33 GBp
The total number of shares now issued stands at 243,502,697, meaning that no ordinary shares remain in treasury post-cancellation of the repurchased shares. This total can be leveraged by shareholders when evaluating their interests based on the regulations set forth under the FCA's Disclosure Guidance and Transparency Rules.
Context of Share Buy-Backs
Equity buy-backs, such as those undertaken by Endeavour Mining, are strategic initiatives aimed at increasing a corporation's share value by reducing the number of shares outstanding. This often leads to a higher Earnings Per Share (EPS), which can make the shares more attractive to investors.
Market Reaction and Expectations
Investors typically view share buy-backs positively, perceiving them as a signal that a company is confident in its future performance. Endeavour’s commitment to this buy-back program indicates a solid financial foundation and is expected to positively affect its share price trajectory.
Details of Individual Transactions
In compliance with the Market Abuse Regulation, detailed information regarding each transaction performed as part of this buy-back effort has been made available:
Several transactions occurred throughout the day at various prices and volumes, showcasing the company’s active engagement in the market to repurchase its shares effectively.
About Endeavour Mining
Endeavour Mining is renowned as one of the leading gold producers globally, with a robust presence across West Africa. The company holds significant assets in Senegal, Côte d'Ivoire, and Burkina Faso, coupled with promising development projects in the Birimian Greenstone Belt.
A member of the World Gold Council, Endeavour Mining adheres to responsible mining principles, aiming to generate sustainable value for its stakeholders, employees, and local communities.
Contact Information
For investor relations inquiries, please contact:
- Jack Garman
Vice President of Investor Relations
Phone: +44 203 011 2723
Email: investor@endeavourmining.com
For media inquiries:
- Brunswick Group LLP in London
Carole Cable, Partner
Phone: + 44 207 404 5959
Email: ccable@brunswickgroup.com
Frequently Asked Questions
Why is Endeavour Mining conducting a share buy-back?
Endeavour Mining is conducting a buy-back to enhance shareholder value, increase Earnings Per Share (EPS), and show confidence in its future performance.
How many shares did Endeavour Mining repurchase?
The company repurchased a total of 46,000 ordinary shares in this recent transaction.
What was the volume-weighted average price of the repurchased shares?
The volume-weighted average price paid per share was 1,721.33 GBp.
What impact does a share buy-back have on shareholders?
A share buy-back typically leads to a higher share price and better EPS metrics, which can increase overall shareholder value.
How can investors stay updated about Endeavour Mining's activities?
Investors can stay updated by following company announcements, visiting the official website, and engaging with investor relations.
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