Griffin Mining Limited Transaction in Own Shares (3346X)
December 19 2023 - 6:11AM
UK Regulatory
TIDMGFM
RNS Number : 3346X
Griffin Mining Limited
19 December 2023
8(th) 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
Increase to US$10 Million in Available Funds for Purchase of Own
Shares
19(th) December 202 3
Griffin Mining Limited ("Griffin" or the "Company") has
previously announced on the 12(th) September 2023 that it would
renew its efforts to effect the buy-back of shares of the Company
previously announced on the 25(th) February 2021 (the "Buy-Back
Programme") and to extend the Buy-Back Programme after its
expiration on the 25(th) February 2024 on the same terms.
In addition to the Buy-Back Programme, the directors reserved
the right (subject to compliance with all applicable laws and
regulations) 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 large number of shares via a tender offer which
would be the subject of further documentation being sent to non-US
resident shareholders.
In view of the current market price of the Company's shares, the
lack of shares capable of being offered daily to the Company under
current market regulations and the desire of certain large
individual shareholders wishing to possibly sell a large number of
such shares which could cause instability in the Company's share
price if offered via the current Buy-Back Program, the Company has
increased the funds available for the purchase of its own shares
from up to $5m to up to US$10 million and an unlimited number of
shares in addition to that already expended under the Buy-Back
Programme.
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 Gordon (UK) Limited Telephone: +44 (0)20 7886 2500
John Prior
Dougie McLeod
Berenberg Telephone: +44(0)20 3207 7800
Matthew Armitt
Jennifer Lee
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) No. 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR").
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
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END
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