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Endeavour Mining announced that all resolutions were passed at its annual general meeting held on May 30, 2024. Key resolutions included re-electing directors Alison Baker, Patrick Bouisset, Ian Cockerill, Livia Mahler, Sakhila Mirza, Naguib Sawiris, and Srinivasan Venkatakrishnan. Additionally, Cathia Lawson-Hall and John Munro were elected as new directors. BDO LLP was reappointed as auditors with authorization for the Audit Committee to fix their remuneration.
The resolutions also approved the Directors' Remuneration Report, performance share units under the Equity Incentive Plans, and granted authority to allot shares. Special resolutions included general and additional authority to disapply pre-emption rights and to purchase own shares, among others.
78.75% of issued share capital was voted, reflecting strong shareholder engagement.
Endeavour Mining announced the purchase of 21,000 of its ordinary shares on May 29, 2024, as part of its buy-back program initiated on March 20, 2023. The shares were acquired at prices ranging from 1,683 GBp to 1,733 GBp, with a volume-weighted average price of 1,709.07 GBp. Post-cancellation, the total number of ordinary shares in issue will be 244,834,869, which also represents the total voting rights. This information is essential for shareholders to determine if they need to notify changes to their interests in the company according to FCA rules.
Endeavour Mining announced that wet commissioning at the Lafigué project in Côte d'Ivoire is underway. The project is 94% complete, on budget, and ahead of schedule, with the first gold pour expected in late June. Ore stockpiles are at 1.6Mt grading 1.30 g/t gold, equating to 65koz. The Lafigué mine is expected to produce 90-110koz of gold in FY-2024 at an AISC of $900-975/oz. The mine's initial capital expenditure stands at $448 million, with 97% committed and 83% incurred. The project aims for an average annual production of 203koz at an AISC of $871/oz over its 13-year life. The workforce includes 92% local nationals, contributing to community employment and technical training.
As of 24 May 2024, BlackRock has adjusted its holdings in Endeavour Mining, increasing its total voting rights to 13.72%, up from 13.71%. BlackRock now holds 12.12% through direct voting rights attached to shares and an additional 1.6% via financial instruments. The notification was made to Endeavour Mining on 27 May 2024.
On 24 May 2024, Endeavour Mining announced the repurchase of 12,000 of its ordinary shares (USD 0.01 each) from Stifel Nicolaus Europe, as part of a buy-back programme initiated on 20 March 2023.
The shares were bought on 23 May 2024 at prices ranging from 1,669.00 GBp to 1,696.15 GBp, with a volume-weighted average price of 1,692.63 GBp.
Following the repurchase and cancellation of these shares, the total number of ordinary shares in issue is 244,859,849, which will serve as the denominator for shareholders’ voting rights calculations under the FCA's Disclosure Guidance and Transparency Rules.
On 22 May 2024, Endeavour Mining announced the purchase of 6,000 of its ordinary shares (USD 0.01 each) through Stifel Nicolaus Europe The lowest price paid per share was 1,777 GBp, the highest was 1,780 GBp, and the volume-weighted average price was 1,778.50 GBp. Following this purchase, the company will have 244,871,849 ordinary shares in issue and no ordinary shares in treasury. This transaction is part of a buy-back programme announced on 20 March 2023. The repurchased shares were acquired under the regulatory framework of Article 5(1)(b) of Regulation (EU) No 596/2014.
On 21 May 2024, Endeavour Mining received a notification from BlackRock about its holdings in the company as of 20 May 2024. BlackRock's total voting rights in Endeavour Mining amount to 13.71%, a slight increase from its previous position of 13.61%. The breakdown shows 11.93% in direct voting rights and 1.78% through financial instruments. BlackRock's notification follows an acquisition or disposal of voting rights, with specific details on direct and indirect holdings. The notification highlights the extensive chain of controlled undertakings through which BlackRock holds its voting rights and financial instruments.
On 20 May 2024, Endeavour Mining announced the purchase of 4,000 of its own ordinary shares from Stifel Nicolaus Europe The shares were bought at prices ranging from 1,700.00 to 1,704.00 GBp, with an average of 1,701.75 GBp per share. This transaction is part of a buy-back program initiated on 20 March 2023. After these purchases, Endeavour Mining will have 244,877,849 ordinary shares in issue and no shares in treasury. Shareholders can use this figure to determine their voting rights under the FCA's disclosure rules.
On May 16, 2024, Endeavour Mining announced the purchase of 3,000 of its ordinary shares from Stifel Nicolaus Europe The shares, priced between 1,715.00 GBp and 1,721.00 GBp, were bought as part of the company's buy-back program initiated on March 20, 2023. Following this transaction, Endeavour has no ordinary shares in treasury and 244,878,849 shares in issue, which is the new basis for shareholders' voting calculations per FCA regulations.
On 13 May 2024, Endeavour Mining received a notification from Van Eck Associates regarding its holdings in the company as of 10 May 2024. The notification indicated Van Eck's voting rights had decreased to 8.999% from the previous 9.76%, amounting to 22,037,900 voting rights. This change was due to an acquisition or disposal of voting rights. The notification included details of multiple funds managed by Van Eck that hold shares in Endeavour Mining. The total number of voting rights for the issuer is 244,881,920. Additional information about proxy voting was provided, with Glass Lewis holding 22,037,900 shares and 8.999% voting rights.
