Eldorado Gold Announces Normal Course Issuer Bid
Eldorado Gold announces TSX approval for a new normal course issuer bid (NCIB) to purchase up to 350,000 common shares (0.17% of total shares) between November 8, 2024, and July 31, 2025. Purchases will be made through TSX and alternative Canadian trading systems at prevailing market prices, with daily purchases to 83,123 shares. The company has engaged National Bank Financial Inc. under an automatic share purchase plan. Under the previous NCIB, Eldorado purchased 500,000 shares at a weighted average price of C$14.7482 per share.
Eldorado Gold annuncia l'approvazione da parte della TSX per una nuova offerta di acquisto normale (NCIB) per acquistare fino a 350.000 azioni ordinarie (0,17% del totale delle azioni) tra l'8 novembre 2024 e il 31 luglio 2025. Gli acquisti saranno effettuati tramite la TSX e sistemi di trading alternativi canadesi ai prezzi di mercato vigenti, con acquisti giornalieri fino a 83.123 azioni. L'azienda ha coinvolto National Bank Financial Inc. in un piano automatico di acquisto di azioni. Nel precedente NCIB, Eldorado ha acquistato 500.000 azioni a un prezzo medio ponderato di C$14.7482 per azione.
Eldorado Gold anuncia la aprobación de la TSX para una nueva oferta normal de compra (NCIB) para adquirir hasta 350.000 acciones ordinarias (0,17% de las acciones totales) entre el 8 de noviembre de 2024 y el 31 de julio de 2025. Las compras se realizarán a través de la TSX y sistemas de comercio alternativos canadienses a los precios de mercado vigentes, con compras diarias de hasta 83.123 acciones. La compañía ha contratado a National Bank Financial Inc. bajo un plan automático de compra de acciones. En el NCIB anterior, Eldorado compró 500.000 acciones a un precio promedio ponderado de C$14.7482 por acción.
엘도라도 골드가 TSX에서 새로운 정상적인 발행사 매입 권리(NCIB)를 승인받아 2024년 11월 8일부터 2025년 7월 31일 사이에 최대 350,000주 보통주 (전체 주식의 0.17%)를 매입할 예정이라고 발표했습니다. 매입은 TSX와 캐나다의 대체 거래 시스템을 통해 시장 가격으로 이루어지며, 하루 최대 83,123주를 매입합니다. 회사는 자동 주식 매입 계획에 따라 National Bank Financial Inc.를 참여시켰습니다. 이전 NCIB에서는 엘도라도가 주당 평균 C$14.7482로 500,000주를 매입했습니다.
Eldorado Gold annonce l'approbation de la TSX pour une nouvelle offre normale d'achat (NCIB) visant à acquérir jusqu'à 350 000 actions ordinaires (0,17 % du total des actions) entre le 8 novembre 2024 et le 31 juillet 2025. Les achats seront effectués par le biais de la TSX et de systèmes de trading canadiens alternatifs aux prix du marché en vigueur, avec des achats quotidiens pouvant atteindre 83 123 actions. L'entreprise a engagé National Bank Financial Inc. dans le cadre d'un plan d'achat automatique d'actions. Dans le cadre de la précédente NCIB, Eldorado a acheté 500 000 actions à un prix moyen pondéré de 14,7482 C$ par action.
Eldorado Gold gibt die Genehmigung der TSX für ein neues normales Rückkaufangebot (NCIB) bekannt, um bis zu 350.000 Stammaktien (0,17% der Gesamtaktien) im Zeitraum vom 8. November 2024 bis zum 31. Juli 2025 zu erwerben. Die Käufe werden über die TSX und alternative kanadische Handelssysteme zu den aktuellen Marktpreisen durchgeführt, mit täglichen Käufen von bis zu 83.123 Aktien. Das Unternehmen hat National Bank Financial Inc. in einen automatischen Aktienrückkaufplan eingebunden. Im Rahmen des vorherigen NCIB erwarb Eldorado 500.000 Aktien zu einem gewichteten Durchschnittspreis von C$14,7482 pro Aktie.
- Company implementing share buyback program, indicating confidence in company's value
- Previous NCIB successfully completed with purchase of all 500,000 authorized shares
- New NCIB to only 0.17% of outstanding shares, smaller than previous program
Insights
This NCIB announcement demonstrates Eldorado Gold's commitment to shareholder value through a modest share repurchase program. The company plans to buy back up to 350,000 shares, representing just
While the buyback size is relatively small compared to the company's market cap, it provides flexibility for managing share-based compensation without significant dilution. The daily purchase limit of 83,123 shares ensures controlled market impact. This represents a conservative capital allocation strategy, maintaining balance sheet flexibility while returning some value to shareholders.
VANCOUVER, British Columbia, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (“Eldorado” or “the Company”) announces that the Toronto Stock Exchange (the “TSX”) has accepted for filing Eldorado’s Notice in respect of a normal course issuer bid (the “NCIB”). Purchases will be made on the open market through the facilities of the TSX and/or alternative Canadian trading systems.
Pursuant to the NCIB, Eldorado may purchase up to 350,000 of its common shares (the “Shares”) representing approximately
Eldorado has engaged National Bank Financial Inc. (the “Broker”) as its broker under an automatic share purchase plan to undertake purchases under the NCIB. During the term of the automatic share purchase plan, Eldorado will not communicate any material undisclosed information to the trading staff at the Broker, and accordingly the Broker may make purchases regardless of whether a blackout period is in effect or whether there is material undisclosed information about Eldorado at the time purchases are made.
Eldorado believes that the purchase of the Shares would be an effective use of its funds and is an effective strategy to enable it to satisfy its future obligations under its employee restricted share unit plan.
Under the Company’s previous normal course issuer bid that commenced on July 4, 2023 and terminated on July 3, 2024 under which the Company sought and received approval from the TSX to purchase up to 500,000 common shares, 500,000 common shares were purchased on the open market through the facilities of TSX and/or alternative Canadian trading systems at a volume weighted average purchase price of C
A copy of Eldorado’s Notice filed with the TSX may be obtained, by any shareholder without charge, by contacting Eldorado’s Corporate Secretary.
About Eldorado Gold
Eldorado is a gold and base metals producer with mining, development and exploration operations in Türkiye, Canada and Greece. The Company has a highly skilled and dedicated workforce, safe and responsible operations, a portfolio of high-quality assets, and long-term partnerships with local communities. Eldorado's common shares trade on the Toronto Stock Exchange (TSX: ELD) and the New York Stock Exchange (NYSE: EGO).
Contact
Investor Relations
Lynette Gould, VP, Investor Relations, Communications & External Affairs
647 271 2827 or 1 888 353 8166
lynette.gould@eldoradogold.com
Media
Chad Pederson, Director, Communications and Public Affairs
236 885 6251 or 1 888 353 8166
chad.pederson@eldoradogold.com
Cautionary Note About Forward-Looking Statements and Information
Certain of the statements made and information provided in this press release are forward-looking statements or information within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Often, these forward-looking statements and forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", “continue”, “projected”, "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements and forward-looking information by their nature are based on assumptions and involve known and unknown risks, market uncertainties and other factors, which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information.
We have made certain assumptions about the forward-looking statements and information, including assumptions about: general market conditions, including prevailing market prices of our common shares and other available investment and business opportunities. In particular, except where otherwise stated, we have assumed a continuation of existing business operations on substantially the same basis as exists at the time of this release.
Even though our management believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statement or information will prove to be accurate. Many assumptions may be difficult to predict and are beyond our control.
Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. These risks, uncertainties and other factors include, among others: our assumptions relating to general market conditions, including prevailing market prices of our common shares, and other available investment and business opportunities, as well as those risk factors discussed in the sections titled “Forward-Looking Statements” and "Risk factors in our business" in the Company's most recent Annual Information Form & Form 40-F. The reader is directed to carefully review the detailed risk discussion in our most recent Annual Information Form filed on SEDAR+ and EDGAR under our Company name, which discussion is incorporated by reference in this release, for a fuller understanding of the risks and uncertainties that affect the Company’s business and operations.
The inclusion of forward-looking statements and information is designed to help you understand management’s current views of our near- and longer-term prospects, and it may not be appropriate for other purposes.
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FAQ
How many shares can Eldorado Gold (EGO) purchase under its new NCIB?
When does Eldorado Gold's (EGO) new share buyback program start and end?
What was the average purchase price of Eldorado Gold's (EGO) previous share buyback program?
What is the daily purchase limit for Eldorado Gold's (EGO) new NCIB?
