8th Floor, Royal Trust House, 54
Jermyn Street, London. SW1Y 6LX. United Kingdom
Telephone: + 44 (0)20 7629
7772 Facsimile: + 44 (0)20 7629 7773
E mail:
griffin@griffinmining.com
Re-institution of Share
Buy-Back Programme
30th October
2024
As outlined in Griffin Mining
Limited's ("Griffin" or the "Company') announcement on the
26th February 2024 and 7 August 2024, the Company is
reinstituting its share buy-back programme. The repurchased shares
will be acquired on market and on an ad hoc basis as determined by
the Company (the "Buy Back Programme").
The Company has further resolved to
purchase up to 10 million outstanding ordinary shares and/or up to
$10 million of such shares until 25th April 2025, after
which the directors of the Company will consider a further Buy Back
Programme and/or other means of returning excess funds to
shareholders. This arrangement is in
accordance with the Company's general authority to repurchase
shares.
The Buy Back Programme will be
carried out on the London Stock Exchange and will be effected
within the safe harbour provisions set out in the Market Abuse
Regulation 596/2014 ("MAR"), the Commission Delegated Regulation
(EU) 2016/1052 and the applicable laws and regulations of the
London Stock Exchange.
Purchases will be carried out in
compliance with the relevant conditions for trading, restrictions
regarding time and volume, disclosure and reporting obligations,
and price conditions. The Company will seek to make market
purchases at a price or prices and volume that the Company believes
will be value-enhancing for the Company's shareholders.
In addition to the Buy Back
Programme, the directors reserve the right (subject to compliance
with applicable law) to:
1. purchase large blocks
of shares from individual shareholders where the large number of
such shares offered in the market may cause instability in the
Company's share price; and
2. purchase a larger
number of shares via a tender offer which would be the subject of
further documentation being sent to non-US resident
shareholders.
About Griffin Mining
Limited
Griffin Mining Limited's shares are
quoted on the Alternative Investment Market (AIM) of the London
Stock Exchange (symbol GFM). Griffin Mining
Limited owns and operates in China, through its 88.8% owned Joint
Venture stock company, the Caijiaying Zinc Gold Mine, a profitable
mine producing zinc, gold, silver, and lead metals in concentrates.
For more information, please visit the Company's website
www.griffinmining.com.
Further information
Griffin Mining Limited
Mladen Ninkov -
Chairman
Telephone: +44(0)20 7629 7772
Roger Goodwin - Finance
Director
Panmure Liberum Limited - Nominated
Adviser & Joint Broker Telephone: +44
(0)20 7886 2500
James Sinclair Ford
Kieron Hodgson
Dougie McLeod
Berenberg
Telephone: +44(0)20 3207 7800
Matthew
Armitt
Jennifer Lee
Griffin Mining Limited's shares are quoted on
the Alternative Investment Market (AIM) of the London Stock
Exchange (symbol GFM).
The
Company's news releases are available on the Company's web
site: www.griffinmining.com