Endeavour's Share Repurchase Highlights Investor Confidence
Endeavour Mining Announces Important Share Repurchase
Endeavour Mining plc has taken a significant step by announcing its recent acquisition of ordinary shares valued at USD 0.01 each. This move is viewed as a direct reflection of the company’s commitment to shareholder value and market stability.
Transaction Summary and Details
In this share buyback process, the company completed the purchase of 24,000 ordinary shares through Stifel Nicolaus Europe Limited. The lowest price paid per share was 1,683.00 GBp, whereas the highest price hit 1,712.00 GBp. The volume-weighted average price for this transaction stood at 1,689.17 GBp. Following the cancellation of these shares, Endeavour will have no ordinary shares held in treasury, resulting in a total of 243,548,697 ordinary shares currently in circulation.
Importance of the Buyback Program
The recent share purchases are part of Endeavour's ongoing buy-back program, initiated to enhance shareholder value. This action demonstrates the company's confidence in its operational performance and future outlook. The total number of voting rights in the company has been confirmed by the management, providing shareholders a clear basis for determining their interests according to the FCA's Disclosure Guidance and Transparency Rules.
Individual Trade Details
Complying with the Market Abuse Regulation, Endeavour has disclosed detailed information about the individual trades executed as part of the share buyback. The schedule of purchases encompassed various transaction times, volumes, and trading prices predominantly on the London Stock Exchange, showcasing robust activity throughout the buyback period.
How Transactions Were Conducted
The company’s buyback operations were characterized by several key transactions conducted during the course of the day. At various timestamps, purchases ranged from 5 shares up to 1,000 shares, providing a comprehensive view of the trading volume throughout the transaction period. Such transparency sets a positive precedent for investor relations, enhancing trust in the company's strategies.
Looking Ahead: Endeavour's Strategic Vision
Endeavour Mining is recognized as a leading player in the gold mining sector, particularly in West Africa, accentuated by its operational assets in Senegal, Cote d’Ivoire, and Burkina Faso. The company continues to focus on responsible mining practices while pursuing sustainable growth. As a member of the World Gold Council, Endeavour is dedicated to creating substantial value for its stakeholders.
Company Contact Information
For Investor Relations Enquiries:
Jack Garman
Vice President of Investor Relations
+44 203 011 2723
investor@endeavourmining.com
For Media Enquiries:
Brunswick Group LLP in London
Carole Cable, Partner
+ 44 207 404 5959
ccable@brunswickgroup.com
Frequently Asked Questions
What was the purpose of Endeavour Mining's recent share buyback?
The share buyback aims to enhance shareholder value and demonstrate confidence in the company’s financial health.
How many shares did Endeavour purchase in total?
Endeavour purchased a total of 24,000 ordinary shares during this transaction.
What prices were paid per share in the transaction?
The lowest price paid was 1,683.00 GBp, while the highest price reached 1,712.00 GBp.
What impact does the buyback have on other shareholders?
After cancelling these shares, the total number of voting rights is reduced, which may impact shareholder calculations of interests as per regulatory requirements.
What is Endeavour Mining's market positioning?
Endeavour Mining is among the senior gold producers globally and holds the position of the largest producer in West Africa, committed to responsible and sustainable mining practices.
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