REG - Griffin Mining Ltd - Share Buyback via Reverse Accelerated Bookbuild

Griffin MiningAnnouncement

19/09/2025 16:45

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RNS Number : 9554Z  Griffin Mining Limited  19 September 2025

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR
FROM THE UNITED STATES OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
EU REGULATION 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE
EUROPEAN UNION (WITHDRAWAL) ACT 2018

 

8(th) Floor, 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 (mailto:griffin@griffinmining.com)

 

19(th) September 2025

 

Launch of Share Buyback via Reverse Accelerated Bookbuild

 

On 18(th) June 2025, Griffin Mining Ltd ("Griffin" or "the Company") announced
a share buy-back programme for the repurchase of shares on market and on an ad
hoc basis as determined by the Company (the "Existing Buy Back Programme").
The board granted authority to apply up to $10 million of the Company's funds
in the purchase of up to 10 million ordinary shares of $0.01 each in the
Company ("Ordinary Shares") in connection with the Existing Buy Back
Programme, which is scheduled to continue until 13 December 2025. There have
been limited buy-backs under the Existing Buy Back Programme, with a total of
60,000 Ordinary Shares having been repurchased since its launch.

 

Following the announcement of the Company's interim result for the six months
ended 30 June 2025 on 9th September 2025, the Company has determined to
announce a separate share buyback via a reverse accelerated bookbuild (the
"RABB Buyback").

 

The Company has engaged Panmure Liberum Ltd ("Panmure Liberum") to implement
the RABB Buyback. Pursuant to the RABB Buyback, Panmure Liberum will purchase,
as principal, up to a maximum of 10 million Ordinary Shares (being 5.4 per
cent. of the Company's Ordinary Shares) at a price per Ordinary Share to be
determined based on the offers received in the Buyback process (the "Purchase
Price"). The board has authorised the application of no more than $20 million
to execution of the RABB Buyback.

 

The RABB Buyback will commence immediately following this announcement and
will be closed at 16:35 (BST) on 22(nd) September 2025 (or other such time as
the Company and Panmure Liberum agree). The final number of Ordinary Shares to
be purchased, together with the Purchase Price will be agreed at the close of
the RABB Buyback at the sole discretion of Griffin and Panmure Liberum, and
the results of the RABB Buyback will be announced as soon as practicable
thereafter. To the extent that the RABB Buyback is oversubscribed, orders will
be scaled back (whether on a pro rata basis or otherwise) at the sole
discretion of Griffin and Panmure Liberum.

 

CREST Shareholders wishing to sell Ordinary Shares as part of the RABB Buyback
should inform their broker to contact Panmure Liberum before 16:35 (BST) on
22(nd) September 2025. Panmure Liberum: +44 (0)20 7886 2500.

 

For logistical reasons, the RABB Buyback is not being made available to
shareholders who hold their Ordinary Shares in certificated form. However,
such shareholders will still be able to offer their Ordinary Shares for
purchase by the Company pursuant to the Existing Buy Back Programme which will
continue to operate notwithstanding the RABB Buyback. Any purchases of
Ordinary Shares under the Existing Buy Back Programme will be carried out on
the London Stock Exchange and will continue to be effected within the safe
harbour provisions set out in the Market Abuse Regulation 596/2014 ("MAR"),
the Commission Delegated Regulation (EU) 2016/1052 and the applicable laws and
regulations of the London Stock Exchange.

 

Purchase of the Company's Ordinary Shares pursuant to the RABB Buyback will
take place following announcement of the result of the RABB Buyback.

 

The primary purpose of the RABB Buyback is to reduce the share capital of the
Company. The Ordinary Shares purchased under the RABB Buyback will be
cancelled.

 

The directors of the Company consider the RABB Buyback to be in the best
interests of the Company and of its shareholders generally, with the
implementation of the RABB Buyback expected to enhance earnings per share.

 

Any purchase of Ordinary Shares under the RABB Buyback will be carried out on
the London Stock Exchange and shall take place in accordance with the
Company's existing general authority to repurchase Ordinary Shares.

 

The person responsible for arranging the release of this announcement on
behalf of the Company is

Roger Goodwin, Finance Director.

 

Enquiries:

 

 Griffin Mining Limited            Telephone: +44(0)20 7629 7772
 Mladen Ninkov - Chairman
 Roger Goodwin - Finance Director

 Panmure Liberum                   Telephone: +44 (0)20 7886 2500
 James Sinclair-Ford / Zak Wadud
 Rupert Dearden / Rauf Munir

 Berenberg                         Telephone: +44(0)20 3207 7800
 Matthew Armitt
 Jennifer Lee

 

 

Important Notices

 

The information contained within this Announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(Regulation 596/2014) as it forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018. Upon the publication of this
Announcement via a Regulatory Information Service, this inside information is
now considered to be in the public domain.

 

Panmure Liberum Limited ("Panmure Liberum"), which is authorised and regulated
in the United Kingdom by the FCA, is acting as nominated adviser and broker
exclusively for Griffin and no one else in connection with the matters set out
in this announcement and will not regard any other person as its client in
relation to the matters set out in this announcement and will not be
responsible to anyone other than Griffin for providing the protections
afforded to clients of Panmure Liberum, nor for providing advice in relation
to the contents of this announcement or any other matter referred to herein.
Neither Panmure Liberum nor any of its subsidiaries, branches or affiliates
owes or accepts any duty, liability or responsibility whatsoever (whether
direct or indirect, whether in contract, in tort, under statute or otherwise)
to any person who is not a client of Panmure Liberum in connection with this
announcement, any statement contained herein or otherwise or any transaction,
arrangement or other matter referred to herein.

 

Neither Panmure Liberum, Berenberg,  nor any of its affiliates nor any of
their respective directors, officers, employees, advisers or agents accepts
any responsibility or liability whatsoever for, or makes any representation or
warranty, express or implied, as to, the truth, accuracy or completeness of
the information in this announcement (or whether any information has been
omitted from the announcement) or any other information relating to Griffin,
whether written, oral or in a visual or electronic form, and howsoever
transmitted or made available or for any loss howsoever arising from any use
of this announcement or its contents or otherwise arising in connection
therewith.

 

All times referred to are London, UK, time unless otherwise stated.

 

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