Share and GDR Buyback Update
Amsterdam, Netherlands, February 25, 2016 - Nord Gold N.V. (“Nordgold” or the “Company”, LSE: NORD), the internationally diversified low-cost gold producer, announces that on February 15 - 24, 2016, in accordance with the 2016 buyback programme, it purchased a total of 87,586 GDRs for the total amount of US$241,444.
The daily transactions are detailed below.
Since the beginning of the 2016 buyback programme on January 4, 2016 Nordgold has purchased a total of 319,849 GRDs for the total amount of US$852,117.
On November 17, 2015, the Board approved the 2016 GDR buyback programme for up to 5,000,000 GDRs to a maximum total amount of US$15 million at a price of up to US$5.0 per GDR. The buyback programme will end as soon as the aggregate purchase price of GDRs acquired by the Company has reached the amount of US$15 million or ultimately, by November 17, 2016.
The Company has an entire issued share capital of 370,821,439 shares.
Following the withdrawal from the GDR programme of the shares underlying the GDRs, the Company intends to cancel the shares.
Due to the generally low trading volume in the Company’s GDRs, purchases of the GDRs under the programme on any trading day are likely to represent a significant proportion of the daily trading volume in the GDRs on the LSE.
|PERIOD||NO. OF ACQUIRED GDRS||AVERAGE PRICE PER GDR, IN US$||TOTAL AMOUNT, IN US$|
|February 15, 2016||11,537||2.7100||31,265|
|February 16, 2016||10,000||2.7500||27,500|
|February 17, 2016||15,000||2.8000||42,000|
|February 18, 2016||14,772||2.7257||40,264|
|February 19, 2016||14,944||2.7165||40,595|
|February 22, 2016||15,000||2.8036||42,054|
|February 23, 2016||500||2.8000||1,400|
|February 24, 2016||5,833||2.8057||16,366|
Nordgold (LSE: NORD) is an internationally diversified low-cost gold producer established in 2007 and publicly traded on the London Stock Exchange. The Company has expanded rapidly through carefully targeted acquisitions and organic growth, achieving a rate of growth unmatched in the industry during that period. In 2015, Nordgold produced 950 thousand ounces of gold. The Company operates 9 mines and has 2 development projects, 4 advanced exploration projects and a diverse portfolio of early-stage exploration projects and licenses in Burkina Faso, Guinea, Russia, Kazakhstan, French Guiana and Canada. Nordgold employs more than 8,000 people..
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Tel: +44 (0) 20 7250 1446