RNS Number : 5984Z
Griffin Mining Limited
07 August 2024
 

 

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

 

update to Share Buy Back Programme

 

7th  August 2024

 

 

Further to the announcement of 6th August 2024, the Company is reinitiating a share buy back programme in line with that announced on 26th February 2024, with shares to be purchased on an ad hoc basis as determined by the Company (the "Buy Back Programme").

 

The Company resolved to purchase up to 10 million outstanding ordinary shares and up to a value of $10m until 25th August 2024, after which the Directors will consider a further Buy-Back Programme and or other ways of returning funds to shareholders.  To date 1,216,996 Ordinary Shares have been purchased since 26th February 2024 and held in treasury. This arrangement is in accordance with the Company's general authority to repurchase shares.

 

The 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

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