REG - Griffin Mining Ltd - Transaction in Own Shares

Griffin MiningAnnouncement

19/12/2023 12:15

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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 (mailto:griffin@griffinmining.com)

 

Increase to US$10 Million in Available Funds for Purchase of Own Shares

 

19(th) December 2023

 

 

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 (http://www.griffinmining.com/)

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