Griffin Mining Limited RE-INSTITUTION OF SHARE BUY-BACK PROGRAMME

RNS Number : 1206K

Griffin Mining Limited

30 October 2024

 

 

8^th 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: [e-mail]

 

Re-institution of Share Buy-Back Programme

 

30^th October 2024

 

 

As outlined in Griffin Mining Limited's ("Griffin" or the "Company') announcement on the 26^th 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 25^th 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: [phone]

Roger Goodwin - Finance Director

 

Panmure Liberum Limited - Nominated Adviser & Joint Broker Telephone: [phone]

             James Sinclair Ford

             Kieron Hodgson

             Dougie McLeod

           

Berenberg                                                                                          Telephone: [phone]

            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

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