Cancellation of Treasury Shares and Decrease of Share Capital
Amsterdam, Netherlands, May 28, 2015 - Nord Gold N.V. (“Nordgold” or the “Company”, LSE: NORD), the internationally diversified low-cost gold producer, announces that a total of 1,516,177 GDRs, which were purchased in accordance with the share buyback programme on April 15 – May 18, 2015, have been withdrawn from the GDR programme and the treasury shares representing such GDRs subsequently cancelled on May 27, 2015.
Following this transaction, the Company’s entire issued share capital as at May 27, 2015 (after market close) consists of 376,524,189 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 89.26% from 88.90%. The Company’s freefloat has decreased to 10.71% from 11.07%.
On February 24, 2015, the Board approved a share and GDR buyback programme for up to 19,000,000 shares/GDRs to a maximum total amount of US$30 million at a price of up to US$4 per share/GDR. The buyback programme will end as soon as the aggregate purchase price of the shares/GDRs acquired by the Company has reached the amount of US$30 million or ultimately, by 31 December 2015.
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 2014, Nordgold’s gold production increased to 985 thousand ounces from 924 thousand ounces in 2013. 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 over 8,000 people.
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Head of IR
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Head of Media Relations
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