Endeavour Mining plc T.EDV

In my opinion….

[couples4]

...he did things more serious than simple irregular payment.

London, 18 January 2024 – As announced on 4 January 2024, Sbastien de Montessus’ position was terminated

as President and Chief Executive Officer and Executive Director of Endeavour Mining plc (the “Company”) with

immediate effect.

The information required to be made available pursuant to Section 430(2B) of the Companies Act is set out below.

In accordance with Mr de Montessus’ service agreement and the Directors’ Remuneration Policy:

› Mr de Montessus will receive no further salary, pension or benefits for the period after his date of

termination and will not be paid any annual bonus in respect of the financial years 2023 or 2024.

› On the date of termination, Mr de Montessus’ unvested share awards over 717,397 shares lapsed in full.

The total value forfeited is USD 17.6 million, based on:

› Mr Montessus’ expected 2023 annual bonus, which was c. USD 2 million, and

› Unvested share awards (USD 15.6 million2).

In addition, the Remuneration Committee has exercised its discretion to apply clawback in full to the USD 10

million one-off award granted to Mr de Montessus in 2021 and the USD 1.5 million cash portion of the bonus

received for 2022. Part of the USD 11.5 million will be set off against Mr de Montessus’ remaining vested 2020

LTIP award and the vested portion of his 2021 LTIP award (worth c. USD 8.8 million in aggregate based on

yesterday’s share price) and he will be required to repay the remainder.

The total value of remuneration forfeited and being clawed back is USD 29.1 million.

Details will be disclosed in the Directors’ Remuneration Report within the Company’s Annual Report and

Accounts for the year ending 31 December 2023.

[theCurse]

Well, he did do more than one irregular payment "Separately, in October 2023 allegations were made against Sbastien de Montessus through the Company’s confidential whistleblowing channel relating to his personal conduct with colleagues. Following a recent external investigation, the Board had received the findings and, at the point of termination, was considering the appropriate course of

[mercedesman]

Whatever the other incidence was, his wife must be giving him an earful after hearing that almost $40 million Cdn in compensation just went up in flames.   On a slightly more positive note, the short position stopped going up and reversed somewhat, as of Jan  15 after rising by about 1.5M shares since Oct 31.  Buying opp?  I'm trying to decide if it's time to