Nord Gold seeks premium listing on LSE, increasing free float to over 30%
Nord Gold N.V. (“Nordgold” or the “Company”, LSE: NORD), the internationally diversified low-cost gold producer, is hosting an Investor Day for sell-side analysts and institutional investors today (27 April 2015).
David Morgan (Chairman), Nikolai Zelenski (CEO), Louw Smith (COO), Oleg Pelevin (Director of Strategy and Corporate Development), Igor Klimanov (Development Projects Director) and other members of the senior management team will be presenting.
The presentations will focus on Nordgold’s positioning, strategy, operations, growth projects and outlook.
Strategic update and intention to seek premium listing
Since it was established in 2007, Nordgold has evolved from a high growth emerging markets gold company to a best in class internationally diversified low-cost million ounce gold producer. Nordgold has established a reputation for financial delivery and operational excellence, illustrated by the highly successful launch of Bissa, Nordgold’s second mine in Burkina Faso and achieving positive free cash flow at all nine mine sites in 2014.
In order to drive shareholder value, Nordgold plans to continue to deliver on its strategic initiatives, designed to achieve production and profit growth in a low price environment:
• Excellency in operational and financial performance through maintaining the high quality of the Company’s mines and tight control over costs.
• Robust free cash flow generation.
• Consistent shareholder returns through a quarterly interim dividend payment of 30% of normalised net profit attributable to shareholders and the buyback programme, started in February 2015.
• Reduce the debt position organically through consistent free cash flow generation and effective debt management.
• Develop the existing pipeline of high quality greenfield and brownfield projects through carefully selected investments.
The Board has also approved further capital markets strategic initiatives to increase the Company’s market capitalisation and position it for market success, including the aim of seeking a premium listing on the London Stock Exchange, increasing the free float to over 30%.
Nikolai Zelenski, Chief Executive Officer of Nordgold, commented:
I am delighted to host our first Investor day in London, a symbol of our continued commitment to corporate governance and transparency. Nordgold has a track record of financial and operational performance, which is not reflected in the current market value of the business. We firmly believe our intention to seek a premium listing will materially improve the valuation of the business and positively impact the returns we can generate for our shareholders.