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BRIEF-Centamin Says Did Not Reach Agreement With Endeavour On Value, Talks Ended

Reuters logo Reuters 1/14/2020

Jan 14 (Reuters) - Centamin PLC:

* CENTAMIN PLC - BOARD HAS UNANIMOUSLY CONCLUDED THAT POSSIBLE OFFER FROM ENDEAVOUR MINING CORPORATION MATERIALLY UNDERVALUED CENTAMIN AND ITS PROSPECTS

* CENTAMIN PLC - BOARD NOTES THAT ENDEAVOUR HAS WITHDRAWN ITS POSSIBLE OFFER

* CENTAMIN PLC - PROPOSES A FINAL DIVIDEND OF 6.0 US CENTS PER SHARE, BRINGING TOTAL PROPOSED DIVIDENDS FOR 2019 TO 10.0 US CENTS PER SHARE

* CENTAMIN - AFTER A PERIOD OF "CONSTRUCTIVE ENGAGEMENT", CO AND ENDEAVOUR HAVE NOT REACHED AGREEMENT ON VALUE AND HAVE THEREFORE TERMINATED DISCUSSIONS

* CENTAMIN PLC - CONTINUES TO ASSESS OPPORTUNITIES AND WE LOOK FORWARD TO CONTINUED PROACTIVE ENGAGEMENT WITH OUR STAKEHOLDERS

* CENTAMIN PLC - BOARD'S EXPECTATION FOR 2020 PRODUCTION IS UNCHANGED AT 510,000-540,000 OUNCES

* CENTAMIN - BOARD CONSIDERED FURTHER EXTENSION OF PUSU DEADLINE WOULD NOT RESULT IN REALISTIC PROSPECT OF OFFER THAT WOULD BE IN BEST INTERESTS OF CO

* CENTAMIN - IN PERIOD SINCE PUSU DEADLINE EXTENSION, CO AND ENDEAVOUR HAVE COMPLETED A "THOROUGH AND EXTENSIVE VALUE-FOCUSED DUE DILIGENCE EXERCISE" Source text for Eikon: Further company coverage:

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