11:42:30 EDT Sat 27 Apr 2024
Enter Symbol
or Name
USA
CA



Endeavour Mining PLC
Symbol EDV
Shares Issued 245,198,863
Close 2024-03-20 C$ 25.71
Market Cap C$ 6,304,062,768
Recent Sedar Documents

Endeavour Mining may buy back up to 12.25 M shares

2024-03-20 11:05 ET - News Release

Mr. Jack Garman reports

ENDEAVOUR ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID

Endeavour Mining PLC has received approval from the Toronto Stock Exchange to renew its normal course issuer bid (NCIB) for its share repurchase program.

Under the NCIB, Endeavour is entitled to repurchase up to 5 per cent of its total issued and outstanding shares as of March 13, 2024, or 12,259,943 shares, during the 12-month period of the NCIB, and up to 25 per cent of the average daily trading volume (ADTV) for the six months ended Feb. 29, 2024, calculated in accordance with the rules of the TSX for purposes of the NCIB or 96,878 shares during each trading day, excluding purchases made in accordance with the block purchase exemptions under applicable TSX policies. All ordinary shares repurchased under the share repurchase program will be cancelled. The renewed NCIB will commence on March 22, 2024, and end on March 21, 2025, or such earlier date as Endeavour may complete its purchases pursuant to the notice of intention filed with the TSX.

Under Endeavour's prior NCIB, which commenced on March 22, 2023, and ends on March 21, 2024, Endeavour obtained approval to purchase up to a total of 12,387,688 ordinary shares, of which 3,143,564 ordinary shares were purchased at a weighted average price of approximately $28.73. Purchases made under the 2023 NCIB were made on the open market through the facilities of the TSX, other designated exchanges and/or alternative Canadian trading systems and on the London Stock Exchange. All shares purchased under the 2023 NCIB by Endeavour were or will be cancelled.

Endeavour believes that purchases under the NCIB constitute a desirable use of its funds on the basis that, from time to time, market prices of the shares may not fully reflect the value of Endeavour's business and future business prospects.

Endeavour's previously announced automatic share purchase agreement with Stifel Nicolaus Europe Ltd. will continue to allow for the purchase of ordinary shares, subject to certain trading parameters, at times when Endeavour would not be active in the market due to regulatory close periods, its own internal trading blackout periods, insider trading rules or otherwise. Outside of these periods, ordinary shares may be repurchased in accordance with management's discretion and in compliance with applicable law.

Share purchases will be made by Stifel (or through its agent, Stifel Nicolaus Canada, Inc.) on the TSX, other designated exchanges, and/or alternative Canadian trading systems and the London Stock Exchange, in accordance with applicable regulatory requirements. The price paid for repurchased ordinary shares will be the market price of such ordinary shares at the time of acquisition or such other price as may be permitted in accordance with applicable regulatory requirements and Endeavour's existing shareholder authority to conduct share repurchases. Endeavour intends to ask shareholders to renew that authority at its 2024 AGM.

About Endeavour Mining PLC

Endeavour Mining is one of the world's senior gold producers and the largest in West Africa, with operating assets across Senegal, Ivory Coast and Burkina Faso and a strong portfolio of advanced development projects and exploration assets in the highly prospective Birimian greenstone belt across West Africa.

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