What Is Endeavour Mining Doing With Its Own Shares in the FTSE 250?

Highlights

• Endeavour Mining repurchased a limited number of its own shares as part of a previously announced programme.

• The transaction was executed through an external financial intermediary at a fixed price per share.

• After cancellation of the repurchased shares, Endeavour Mining reported a revised share capital and total voting rights.

Endeavour Mining plc, listed on the London Stock Exchange under the ticker EDV, operates within the gold mining sector. The company forms part of the FTSE 350 index. On a recent trading date, Endeavour Mining disclosed the purchase of a specific number of its own ordinary shares. The transaction was conducted via Stifel Nicolaus Europe Limited, the financial intermediary responsible for carrying out the buy-back.

The repurchased shares were all acquired at the same market price on a single trading day. The transaction aligns with the terms of the company’s previously disclosed share repurchase programme that was first announced in early spring the year before.

Terms of Repurchase and Pricing Details

The buy-back was completed at a fixed market price per share, with no price variation across the entire volume transacted. Endeavour Mining carried out the entire share repurchase in one day, resulting in the acquisition of a limited number of ordinary shares, each with a nominal value assigned in US dollars. Pricing details including the lowest, highest, and volume-weighted average remained consistent due to the singular transaction price.

These acquired shares are intended for cancellation. Once cancelled, they will no longer form part of the company's treasury or be available for reissue. This cancellation has a direct effect on the total number of shares in issue and, as a result, on the voting rights attached to the company’s share capital.

Impact on Share Capital and Voting Rights

Following this transaction, Endeavour Mining confirmed that it will not retain any ordinary shares in treasury. The total number of ordinary shares in circulation has been adjusted, reflecting only those shares remaining in issue after the cancellation of the repurchased volume.

This updated number represents the current total of voting rights in the company. According to UK regulatory guidelines, shareholders and institutions may use this revised figure as a reference when calculating whether they are obligated to notify the financial authority about any changes to their shareholding levels.

Ongoing Share Buy-Back Programme

This share purchase activity is part of Endeavour Mining’s previously announced buy-back programme. Originally unveiled in the first quarter of the prior calendar year, the programme allows the company to acquire and cancel shares periodically through the open market. All transactions under the programme are executed by a financial intermediary and follow applicable regulatory rules.

The programme’s aim is to manage capital efficiently and maintain the company’s financial structure as disclosed in prior filings. Any additional share repurchases conducted in future will be announced in accordance with regulatory requirements, detailing the volume acquired, transaction dates, and price ranges, as has been done in this disclosure.

Market Context and Index Inclusion

As a constituent of the FTSE 250 index, Endeavour Mining's market activity is followed by market observers and participants. The FTSE 250 includes mid-sized companies listed on the LSE, ranking just below those in the FTSE 100. Endeavour Mining’s actions regarding its capital structure are therefore reported in alignment with disclosure guidelines applicable to companies of its index tier.

The ticker symbol EDV applies both to the LSE and another international exchange, where the company maintains a dual listing. Such transactions are often observed as part of regular capital management within listed companies operating in the mining and resource sectors.