Share and GDR Buyback Update and Total Voting Rights
Amsterdam, Netherlands, May 19, 2015 –Nord Gold N.V. (“Nordgold” or the “Company”, LSE: NORD), the internationally diversified low-cost gold producer, announces that on May 18, 2015, in accordance with the share buyback programme announced on February 24 2015, it purchased a total of 100,032 GDRs at an average price of US$3.015 per GDRs for the total amount of US$301,596.
The Company has an entire issued share capital of 378,040,366 shares, of which 1,516,177 GDRs for shares are held in its own share capital as at May 18, 2015. Therefore, the total number of voting rights in the issued share capital of the Company is 376,524,189..
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.
Since the announcement of the buyback programme Nordgold has purchased a total of 4,474,101 GRDs for the total amount of US$12,049,060. 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.
For further information, please contact:
Head of IR
|Tel: +7 916 474 5996|
Head of Media Relations
|Tel: +7 916 510 1411|
|Tel: +44 (0)20 7379 5151|