REG - Griffin Mining Ltd - Update to Share Buy Back Programme

Griffin MiningAnnouncement

07/08/2024 14:15

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RNS Number : 5984Z  Griffin Mining Limited  07 August 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: griffin@griffinmining.com (mailto:griffin@griffinmining.com)

 

update to Share Buy Back Programme

 

7(th)  August 2024

 

 

Further to the announcement of 6(th) August 2024, the Company is reinitiating
a share buy back programme in line with that announced on 26(th) 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 25(th) 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 26(th) 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 (http://www.griffinmining.com/)

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