Nordgold Announces Further Tender Offer and Changes to the Board
London, United Kingdom, 30 August 2017 - Nord Gold SE (“Nordgold” or the “Company”) announces today the second opportunity for shareholders to tender ordinary shares back to the Company in accordance with its circular published on 9 February 2017 (the “2017 HY Buyback”). Following Board approval, the 2017 HY Buyback will extend to up to 5,565,988 ordinary shares, and the price at which the Company will purchase tendered shares will be US$3.45 per ordinary share tendered.
On 9 March 2017, the Company cancelled the listing of its GDRs on the Official List of the Financial Conduct Authority and their trading on the Main Market of the London Stock Exchange (“De-listing”). In keeping with its strong commitment to good corporate governance and fair treatment of minorities, Nordgold proposed to offer shareholders the ability to tender their shares back to Nordgold on four occasions following De-listing: two occasions after the announcement by the Company of its financial results for each of the half years ended 30 June 2017 and 2018 and two occasions after the announcement by the Company of its financial results for each of the full years ended 31 December 2017 and 2018.
As the 2017 HY Buyback requires shareholder approval, Nordgold’s General Meeting (“GM”) will be held at Celtic Resources Holdings Limited, Fetcham Park House, Lower Road, Fetcham, Leatherhead, Surrey, KT22 9HD on Monday 18 September 2017 at 10:00 am GMT.
Notice of GM and related documents (including proxy forms) are now available on the Company’s website at www.nordgold.com.
At the day of this notice, the Company has an issued capital of EUR 341,632,764, consisting of 341,632,764 Ordinary Shares.
In addition, the Board has elected Gregor Mowat as a non-executive director to replace Peter Bacchus, who has decided to step down from the Company with effect from 25 August 2017 after over three years on the Board. Gregor will chair the Audit Committee of the Board and be a member of the Remuneration and Safety & Sustainable Development Committees.
Peter has played an instrumental role as the Company has gone from strength to strength and we’d like to thank him for all his input to Nordgold’s achievements and to wish him every success in his future endeavours.
Gregor has more than 20 years of experience in public accounting, much of it spent as an audit partner with KPMG in Emerging Market countries. Having been Managing Partner of KPMG in Kazakhstan and CFO of KPMG in Russia and the CIS, Gregor will bring invaluable knowledge and experience to the Board and is well equipped to understand Nordgold’s operating environment and to support his colleagues on the board in areas of governance and risk management. We are delighted to have him join us. David MorganChairman of Nordgold
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 and 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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