Business
Update to Share Buy Back Programme
Update to Share Buy Back Programme.
About this update from Griffin Mining Limited
[{"type":"text","content":"\n\n\n \n8th Floor, Royal Trust House, 54 Jermyn Street, London. SW1Y 6LX. United Kingdom\nTelephone: + 44 (0)20 7629 7772 Facsimile: + 44 (0)20 7629 7773\nE mail: [email protected]\n \nupdate to Share Buy Back Programme\n \n7th August 2024\n \n \nFurther 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\").\n \nThe 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.\n \nThe 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.\n \nPurchases 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.\n \nIn addition to the Buy-Back Programme, the directors reserve the right (subject to compliance with applicable law) to:\n \n1. 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\n \n2. 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.\n \nAbout Griffin Mining Limited \n \nGriffin Mining Limited's shares are quoted on the Alternative Investment Market (AIM) of the London Stock Exchange (sym...