TIDMEDV
RNS Number : 9208B
Endeavour Mining PLC
15 June 2021
ENDEAVOUR ANNOUNCES CONTINUATION OF SHARE REPURCHASE PROGRAMME
UNDER NEW PARENT COMPANY
London, 15 June 2021 - Endeavour Mining plc (TSX: EDV, LSE: EDV,
OTCQX: EDVMF) ("Endeavour") announces that it will continue the
share repurchase programme announced by Endeavour Mining
Corporation ("EMC") on 18 March 2021 for up to 5% of its total
issued and outstanding shares (the "Programme").
The Programme is a continuation of the Normal Course Issuer Bid
("NCIB") programme of EMC, pursuant to which 2,246,503 shares of
EMC have been repurchased and cancelled to date, equivalent to CAD
64 million (approximately US$53 million). The continuation of the
Programme from June 15, 2021 will be effected in accordance with
the terms of the authority granted by the pre-Scheme shareholder of
the Company, as described in Endeavour's prospectus dated 9 June
2021.
The maximum number of shares that may be repurchased by the
Company under the Programme is 9,926,368, being the remaining
capacity under the NCIB programme after deducting the 2,246,503
shares of EMC purchased prior to the Scheme becoming effective. The
Programme will cease on 21 March 2022. Endeavour intends that
shares purchased under the Programme will subsequently be
cancelled. Any share repurchases will be effected in accordance
with Chapter 12 of the Listing Rules and the EU Market Abuse
Regulation 596/2014. The market will be notified in accordance with
those rules if and when purchases are made.
Endeavour has entered into an agreement with Stifel Nicolaus
Europe Limited ("Stifel") to conduct purchases of shares pursuant
to the Programme. Stifel intends to instruct Stifel Nicolaus Canada
Inc. as its agent to conduct purchases of shares on the Toronto
Stock Exchange. Endeavour may expand the Programme to repurchase
shares on the London Stock Exchange in the future or enter into
further agreements with Stifel to conduct the Programme on its
behalf, and to make trading decisions concerning the timing of
purchases under the Programme, independently of Endeavour, to allow
for share repurchases at times when Endeavour is subject to
regulatory restrictions or self-imposed trading blackouts.
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation 596/2014 as it forms
part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018.
CONTACT INFORMATION
Endeavour Mining Brunswick Group LLP in London
Martino De Ciccio Carole Cable, Partner
Vice President - Strategy & Investor +44 7974 982 458
Relations ccable@brunswickgroup.com
+44 203 640 8665
mdeciccio@endeavourmining.com Vincic Advisors in Toronto
John Vincic, Principal
+1 647 402 6375
john@vincicadvisors.com
CORPORATE BROKERS UK AND EUROPEAN BROKING ADVISERS
Barclays Berenberg
Philip Lindop, Robert Mayhew, Richard Matthew Armitt, Varun Talwar
Bassingthwaighte +44 20 3207 7800
+44 20 7623 2323
Morgan Stanley Stifel
Tom Perry, Luka Kezic Callum Stewart, Ashton Clanfield,
+44 20 7425 8000 Rory Blundell
+ 44 20 7710 7600
ABOUT ENDEAVOUR MINING PLC
Endeavour is one of the world's senior gold producers and the
largest in West Africa, with operating assets across Senegal, Cote
d'Ivoire and Burkina Faso and a strong portfolio of advanced
development projects and exploration assets in the highly
prospective Birimian Greenstone Belt across West Africa.
A member of the World Gold Council, Endeavour is committed to
the principles of responsible mining and delivering sustainable
value to its employees, stakeholders and the communities where it
operates. Endeavour is listed on the Toronto Stock Exchange, under
the symbol EDV.
For more information, please visit www.endeavourmining.com .
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
This press release contains statements which constitute
"forward-looking information" within the meaning of applicable
securities laws, including but not limited to statements regarding
the plans, intentions, beliefs and current expectations of
Endeavour with respect to future business activities and operating
performance. Forward-looking information is often identified by the
words "may", "would", "could", "should", "will", "intend", "plan",
"anticipate", "believe", "estimate", "expect" or similar
expressions and includes information regarding Endeavour's
expectations regarding the benefits of a premium listing in the UK
with shares traded on the LSE including deeper access to a diverse
investor pool with strong understanding of its key operating
jurisdictions across West Africa and increased demand for its
shares on the assumption that it will qualify for inclusion in the
FTSE UK Index Series as well as the MSCI Europe Index, Endeavour's
ability to create sustainable shareholder value over the long term,
the potential for continued or future dividends, the approval of
the proposed Admission by the FCA and the LSE and the expected
timing of the FCA's approval of Admission; and admission to listing
and posting for trading on the Toronto Stock Exchange.
Investors are cautioned that forward-looking information is not
based on historical facts but instead reflect Endeavour
management's expectations, estimates or projections concerning
future results or events based on the opinions, assumptions and
estimates of management considered reasonable at the date the
statements are made. Although Endeavour believes that the
expectations reflected in such forward-looking information are
reasonable, such information involves risks and uncertainties, and
undue reliance should not be placed on such information, as unknown
or unpredictable factors could have material adverse effects on
future results, performance or achievements of Endeavour. This
forward-looking information may be affected by risks and
uncertainties in the business of Endeavour and market
conditions.
This information is qualified in its entirety by cautionary
statements and risk factor disclosure contained in filings made by
Endeavour with the Canadian securities regulators, including
Endeavour's annual information form for the financial year ended
December 31, 2020 and financial statements and related MD&A for
the financial year ended December 31, 2020 filed with the
securities regulatory authorities in certain provinces of Canada
and available at www.sedar.com.
Should one or more of these risks or uncertainties materialize,
or should assumptions underlying the forward-looking information
prove incorrect, actual results may vary materially from those
described herein as intended, planned, anticipated, believed,
estimated or expected. Although Endeavour has attempted to identify
important risks, uncertainties and factors which could cause actual
results to differ materially, there may be others that cause
results not to be as anticipated, estimated or intended. Endeavour
does not intend, and does not assume any obligation, to update this
forward-looking information except as otherwise required by
applicable law.
Neither the Toronto Stock Exchange nor the Investment Industry
Regulatory Organization of Canada accepts responsibility for the
adequacy or accuracy of this press release.
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END
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