London, Dec. 3, 2019, La Mancha Holding S.a.r.l., the largest shareholder in Endeavour Mining with a 29.88% stake, welcomes the proposal to combine Endeavour with Centamin plc and agrees that there could be significant benefits arising from such a combination.
Chairman Naguib Sawiris said: “We believe in the strategic rationale for this proposal and are fully supportive. We have long argued that there is scope for further consolidation within the industry.
Moreover, we can add significant value in Egypt, which is opening-up its mining sector through a new, more supportive mining code, and increase the potential for further expansion in the country. We strongly urge the Centamin board to engage with Endeavour to explore the merits of this combination further.”