ENDEAVOUR ANNOUNCES TRANSACTION IN OWN SHARES
London, 08 November 2024 –
Endeavour Mining plc (LSE:EDV, TSX:EDV) (“the Company”) announces it has purchased the following number of its ordinary shares of USD 0.01 each from Stifel Nicolaus Europe Limited.
Aggregated information
Dates of purchase: 07 November 2024
Aggregate number of ordinary shares of USD 0.01 each purchased: 87,884
Lowest price paid per share (GBp): 1,540.00
Highest price paid per share (GBp): 1,644.28
Volume weighted average price paid per share (GBp): 1,611.78
Following the cancellation of the repurchased shares, the Company will have no ordinary shares in treasury and 244,150,437 ordinary shares in issue.
Endeavour Mining plc’s decision to purchase its own shares from Stifel Nicolaus Europe Limited reflects the company’s confidence in its financial stability and market performance. By buying back shares, Endeavour aims to increase value for its remaining shareholders and signal to the market that it believes its stock is undervalued.
Share buybacks can have a positive impact on a company’s stock price by reducing the number of shares outstanding, which can lead to an increase in earnings per share. Additionally, it can indicate to investors that the company believes in its future growth prospects.
Impact on individuals:
For individual investors, Endeavour Mining plc’s share buyback could potentially lead to an increase in the stock price, resulting in higher returns for those holding the company’s shares. Additionally, it may signal to investors that the company is financially healthy and well-positioned for future growth.
Impact on the world:
On a global scale, Endeavour Mining plc’s share buyback may be viewed as a positive indicator for the mining industry and the financial markets as a whole. It could signal confidence in the company’s operations and overall economic stability, potentially influencing investor sentiment in the sector.
Conclusion:
In conclusion, Endeavour Mining plc’s transaction in its own shares is a strategic move aimed at enhancing shareholder value and signaling confidence in the company’s future prospects. The decision may have a positive impact on individual investors holding the stock, while also contributing to a broader sentiment of stability and growth in the global market.
