Centamin dismisses merger talks with Endeavour

Centamin dismisses merger talks with Endeavour

Centamin sought approval from England's Panel on Takeovers and Mergers to extend the deadline for Endeavour to either announce the firm intention to make an offer for Centamin under Rule 2.7 of the City Code on Takeovers and Mergers, or announce that it does not intend to make an offer for Centamin by 5.00 pm GMT on 14 January 2020 (the PUSU Deadline).. Comments Off on Centamin dismisses merger talks with Endeavour. Last December, Endeavour offered an all-share merger with Centamin, in which the latter was valued at $1.9bn.. Endeavour proposed an exchange ratio of 0.0846 in Endeavour shares to each Centamin share.. On 9 January, the Company announced preliminary production results from Sukari for three months that ended 31 December 2019 (4Q) of 148,387 ounces, 51% increase quarter over quarter (QoQ), resulting in the full year 2019 production of 480,529 ounces.. Centamin's board recommended a final dividend for the year ending on 31 December 2019 at $0.06 per share ($69.4m), bringing the proposed total dividend for 2019 to $0.1 per share ($115.6m) and the cumulative dividend returned to shareholders since 2014 to $568m..