Africa-Press – Mozambique. Kenmare Resources PLC – lithium and zircon producer in Mozambique – On Tuesday announces proposed tender offer to buy back up to 13.5% of the company’s shares. Intends to return up to GBP61.8 million to shareholders by way of the offer at a price of GBP4.17 per share. The tender offer will be funded from Kenmare’s cash reserves and borrowings and will close on December 9.
“The tender offer executes on the company’s stated intention to increase shareholder returns after the successful completion of its major capital projects and is supported by strong operational performance of the group and commodity market strength in 2021,” Kenmare said.
Current stock price: 420.00 pence
Year-to-date change: up 34%
By
Will Paige;
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