Normal Course Issuer Bid VANCOUVER, British Columbia, Dec. 24, 2021 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (“Eldorado” or “the Company”) announces that the Toronto Stock Exchange (the “TSX”) has accepted for filing the Eldorado’s Notice in respect of a normal course issuer bid (the “NCIB”) to be transacted through the facilities of the TSX and/or through alternative trading systems, including the New York Stock Exchange (“NYSE”).
Pursuant to the NCIB, Eldorado may purchase up to 1,421,373 of its common shares (the “Shares”) representing approximately 0.8% of the total 182,659,032 common shares of the Eldorado issued and outstanding as at December 17, 2021. Purchases will be made at prevailing market prices commencing December 30, 2021 (other than for purchases through the NYSE, which will commence January 29, 2022) and ending December 29, 2022. Pursuant to TSX policies, daily purchases will not exceed 109,140 common shares, other than block purchase exceptions. The average daily trading volume for the six months period prior to December 1, 2021 was 436,561 common shares. Purchases under the NCIB will depend on future market conditions. Purchases will also be made on the NYSE in accordance with applicable U.S. securities laws.
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.
Eldorado has not repurchased any of its common shares by way of a normal course issuer bid in the previous 12 months.
https://www.globenewswire.com/news-release/2021/12/24/2357733/0/en/Eldorado-Gold-Announces-Normal-Course-Issuer-Bid.html