Endeavour Mining's Strategic Share Buyback Program Details
Endeavour Mining Announces Share Buyback Activity
Endeavour Mining plc (LSE:EDV, OTC Markets:EDVMF, TSX-V:EDV) declared a significant transaction in its own shares, showcasing its commitment to enhancing shareholder value. The recent buyback purchased 45,000 ordinary shares from Stifel Nicolaus Europe Limited, further solidifying the company's strong financial strategy and dedication to returning value to its investors.
Purchase Details Overview
The specifics of the purchase are noteworthy. During the buyback, the shares were acquired at varying prices. The lowest price paid per share was 1,629.00 GBp, while the highest recorded price reached 1,697.46 GBp. The average price for the shares, when weighted by volume, stood at 1,670.85 GBp. Following the cancellation of these repurchased shares, Endeavour Mining will not hold any ordinary shares in treasury, and the total number of ordinary shares in circulation will be adjusted to 243,154,697.
Implications for Shareholders
This move to reduce the total number of shares outstanding reinforces the voting rights of existing shareholders, which will remain at 243,154,697. This number will serve as the denominator for calculating any potential disclosures required by the FCA's Disclosure Guidance and Transparency Rules. The commitment to return capital to shareholders through a buyback signals confidence in the company's future outlook and operational performance, especially in the dynamic gold mining sector.
Transaction Details and Execution
As part of the defined buy-back program announced earlier, Endeavour Mining has ensured transparency in the execution of the individual trades processed by Stifel Nicolaus Europe Limited. The transactions undertaken illustrate a market-responsive approach and strategic alignment with shareholder wealth maximization tactics. The overall strategy aligns with the company's broader commitment to operational excellence and sustainable mining practices.
Schedule of Activity
The schedule of purchases has been released to maintain transparency, capturing the date and times each transaction occurred, along with the corresponding volumes and prices. For instance, at 06:53 AM on the transaction date, 15,000 shares were bought at the highest price of 1,697.46 GBp. Further transactions continue throughout the day at varied prices, adapting swiftly to market conditions.
Contact Information for Inquiries
For any investor relations inquiries or to address media-related questions, two key contacts have been announced: Jack Garman, the Vice President of Investor Relations, who can be reached at +44 203 011 2723 or via email at investor@endeavourmining.com. For media inquiries, Carole Cable, a Partner at Brunswick Group LLP, is available at +44 207 404 5959 or at ccable@brunswickgroup.com.
About Endeavour Mining
Endeavour Mining is recognized as one of the foremost gold producers globally and the largest in West Africa, with active operations extending across countries like Senegal, Côte d'Ivoire, and Burkina Faso. The company boasts a robust portfolio of advanced development projects complemented by exploration assets in West Africa's Birimian Greenstone Belt. Endeavour is a proud member of the World Gold Council with a steadfast commitment to responsible mining practices, delivering sustainable value to its stakeholders. Listed on both the London Stock Exchange and the Toronto Stock Exchange under the ticker symbol EDV, Endeavour Mining continues to forward its legacy in the gold mining sector.
Frequently Asked Questions
What is the main purpose of Endeavour Mining's share buyback?
The main purpose is to enhance shareholder value by reducing the number of shares outstanding, thus boosting earnings per share.
How many shares did Endeavour Mining purchase in this transaction?
Endeavour Mining purchased 45,000 ordinary shares during this transaction.
Who executed the share buyback on behalf of Endeavour Mining?
The share buyback transactions were executed by Stifel Nicolaus Europe Limited.
What will be the total number of voting rights post buyback?
Post buyback and cancellation, the total voting rights will be 243,154,697.
Is Endeavour Mining committed to sustainable practices?
Yes, Endeavour Mining is committed to responsible mining and sustainable operational practices, and it is a member of the World Gold Council.
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