Nordgold has spent $24.6 mln in the framework of the buy back

​Nordgold of A. Mordashov has purchased another 286.076 thousand GDR at the average price of $2.8/piece from the market for the total amount of $816.815 thousand.

The deals were held on September 7-11. As  a result the company has already purchased about 8.652 mln GRD for $24.061 mln. Currently 373.142 mln shares of Nordgold are in circulation. About 90% of the shareholders capital belongs to Mr. Mordashov.

The Board of Nordgold at the beginning of the year approved the buy back program at the volume of up to 19 mln GDR by means of private deals or deals on the LSE.

The buy back will be over on December 31st 2015 or as soon as the total value of the purchased GDR/shares will make up $30 mln. The price of one share/ GDR should not exceed $4/piece. After the buy back, they will be withdrawn from the GDR program and exchanged for shares for their further settlement.