Cancellation of Treasury Shares and Decrease of Share Capital
London, United Kingdom, 4 May 2017 – Nord Gold SE (“Nordgold” or the “Company”), the internationally diversified gold producer, announces that a total of 28,763,465 GDRs, which were purchased in accordance with GDR Buyback process of the Tender Offer closed on 16 March 2017, have been withdrawn from the GDR programme and the treasury shares representing such GDRs subsequently cancelled on 4 May 2017.
Following this transaction, the Company’s entire issued share capital as at 4 May 2017 consists of 341,632,764 ordinary shares.
Following the decrease in the issued share capital of Nordgold, the Company has registered an increase of indirect majority shareholder and non-executive director of the Company Mr. Mordashov’s interest in the Company's share capital to 98.37% from 90.73%.
Capitalised terms and expressions have the same meanings as those attributed to them in the circular sent to Company shareholders on 9 February 2017.
Nordgold is an internationally diversified gold producer established in 2007. Nordgold has a proven track record of operational excellence and benefits from a significant international development pipeline. The Company is relentlessly focused on shareholder value, committed to running safe, efficient, profitable operations, which enable it to generate strong cashflows and in turn, continue to invest in its pipeline of new growth opportunities while generating returns for investors. In 2016, Nordgold produced 869 koz of gold.
Nordgold operates 9 mines (4 in Russia, 3 in Burkina Faso and one each in Guinea and Kazakhstan). It has one project in construction phase (Gross in Russia), several prospective projects in advanced exploration phase and a diverse portfolio of early-stage exploration projects and licences in Burkina Faso, Russia, French Guiana and Canada. Nordgold employs over 8,000 people.
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