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ENDEAVOUR ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID
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London, 20 March 2024 – Endeavour Mining plc (LSE:EDV, TSX:EDV, OTCQX:EDVMF) (“Endeavour” or the “Firm”) has acquired approval from the Toronto Inventory Change (“TSX”) to resume its Regular Course Issuer Bid (“NCIB”) for its share repurchase programme.
Below the NCIB, Endeavour is entitled to repurchase as much as 5% of its complete issued and excellent shares as of 13 March 2024, or 12,259,943 shares, in the course of the 12 month interval of the NCIB, and as much as 25% of the common every day buying and selling quantity (“ADTV”) for the six months ended 29 February 2024, calculated in accordance with the principles of the TSX for functions of the NCIB or 96,878 shares throughout every buying and selling day, excluding purchases made in accordance with the block buy exemptions below relevant TSX insurance policies. All unusual shares repurchased below the share repurchase programme might be cancelled. The renewed NCIB will begin on 22 March 2024 and finish on 21 March 2025, or such earlier date as Endeavour might full its purchases pursuant to the discover of intention filed with the TSX.
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Below Endeavour’s prior NCIB (the “2023 NCIB”), which commenced on 22 March 2023 and ends on 21 March 2024, Endeavour obtained approval to buy as much as a complete of 12,387,688 unusual shares, of which 3,143,564 unusual shares had been bought at a weighted common value of roughly CDN$28.73. Purchases made below the 2023 NCIB had been made on the open market via the amenities of the TSX, different designated exchanges and/or various Canadian buying and selling methods and on the London Inventory Change. All shares bought below the 2023 NCIB by Endeavour had been or might be cancelled.
Endeavour believes that purchases below the NCIB represent a fascinating use of its funds on the idea that, infrequently, market costs of the shares might not totally replicate the worth of Endeavour’s enterprise and future enterprise prospects.
Endeavour’s beforehand introduced automated share buy settlement with Stifel Nicolaus Europe Restricted (“Stifel”) will proceed to permit for the acquisition of unusual shares, topic to sure buying and selling parameters, at occasions when Endeavour wouldn’t be lively available in the market as a result of regulatory shut durations, its personal inside buying and selling black-out durations, insider buying and selling guidelines or in any other case. Exterior of those durations, unusual shares could also be repurchased in accordance with administration’s discretion and in compliance with relevant regulation.
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Share purchases might be made by Stifel (or via its agent, Stifel Nicolaus Canada, Inc.) on the TSX, different designated exchanges and/or various Canadian buying and selling methods and the London Inventory Change, in accordance with relevant regulatory necessities. The value paid for repurchased unusual shares would be the market value of such unusual shares on the time of acquisition or such different value as could also be permitted in accordance with relevant regulatory necessities and Endeavour’s current shareholder authority to conduct share repurchases. Endeavour intends to ask shareholders to resume that authority at its 2024 AGM.
CONTACT INFORMATION
For Investor Relations Enquiries: | For Media Enquiries: |
Jack Garman | Brunswick Group LLP in London |
Vice President of Investor Relations | Carole Cable, Companion |
+44 203 011 2723 | +44 7974 982 458 |
investor@endeavourmining.com | ccable@brunswickgroup.com
|
ABOUT ENDEAVOUR MINING PLC
Endeavour Mining is likely one of the world’s senior gold producers and the biggest in West Africa, with working property throughout Senegal, Cote d’Ivoire and Burkina Faso and a powerful portfolio of superior growth tasks and exploration property within the extremely potential Birimian Greenstone Belt throughout West Africa.
A member of the World Gold Council, Endeavour is dedicated to the ideas of accountable mining and delivering sustainable worth to its workers, stakeholders and the communities the place it operates. Endeavour is admitted to itemizing and to buying and selling on the London Inventory Change and the Toronto Inventory Change, below the image EDV.
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