8th Floor, Royal Trust House, 54
Jermyn Street, London. SW1Y 6LX. United Kingdom
Telephone: + 44 (0)20 7629
7772 Facsimile: + 44 (0)20 7629 7773
E mail:
griffin@griffinmining.com
update to Share Buy Back
Programme
7th August
2024
Further 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").
The 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.
The 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.
Purchases 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.
In addition to the Buy-Back
Programme, the directors reserve the right (subject to compliance
with applicable law) to:
1. 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
2. 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.
About Griffin Mining
Limited
Griffin Mining Limited's shares are
quoted on the Alternative Investment Market (AIM) of the London
Stock Exchange (symbol GFM). Griffin Mining
Limited owns and operates in China, through its 88.8% owned Joint
Venture stock company, the Caijiaying Zinc Gold Mine, a profitable
mine producing zinc, gold, silver, and lead metals in concentrates.
For more information, please visit the Company's website
www.griffinmining.com.
Further information
Griffin Mining Limited
Mladen Ninkov -
Chairman
Telephone: +44(0)20 7629 7772
Roger Goodwin - Finance
Director
Panmure Liberum Limited - Nominated
Adviser & Joint Broker Telephone: +44
(0)20 7886 2500
James Sinclair Ford
Kieron Hodgson
Dougie McLeod
Berenberg
Telephone: +44(0)20 3207 7800
Matthew
Armitt
Jennifer Lee
Griffin Mining Limited's shares are quoted on
the Alternative Investment Market (AIM) of the London Stock
Exchange (symbol GFM).
The
Company's news releases are available on the Company's web
site: www.griffinmining.com