Cancellation of Treasury Shares and Decrease of Share Capital
London, United Kingdom, 21 December 2017 – Nord Gold SE (“Nordgold” or the “Company”), the internationally diversified gold producer, announces that it has completed repurchase of 2,236,757 Ordinary Shares, which remained underlying after the termination of the Nordgold GDR programme, from Deutsche Bank Trust Company Americas (“Depositary”). Repurchase price was determined at US$3.45 per share in accordance with the circular published on 9 February 2017.
Following cancellation of the securities on 1 December 2017, the Company’s entire issued share capital consists of 339,373,771 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 99.03% from 98.38%.
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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