Announcement • Feb 28
IAMGOLD France S.A.S. completed the acquisition of remaining 10% stake in EURO Ressources S.A. (ENXTPA:EUR). IAMGOLD France S.A.S. made an offer to acquire the remaining 10% stake in EURO Ressources S.A. (ENXTPA:EUR) for €21.9 million on November 14, 2023. The offer per share in cash consideration of €3.50 per Share to be followed immediately by a squeeze-out under French law. IAMGOLD France will finance the Offer from existing cash resources. Board of Directors of EURO Ressources thus convened established a Special Committee comprised of David Watkins as Chairman, Ian Smith and Susanne Hermans. IAMGOLD has appointed Natixis as its Financial Advisor, Presenting and Guaranteeing Bank for the Offer. As of January 23, 2024, the transaction has obtained approval from the Autorite des marches financiers ("AMF") in France. As on February 12, 2024, the Squeeze-Out will be implemented on February 27, 2024 and the remaining 5,291,832 EURO Shares not already owned by IAMGOLD France will be transferred to IAMGOLD France in exchange for the Squeeze-Out Consideration. The Notice is available on the website of the AMFIn connection with the Offer, Norton Rose Fulbright LLP is acting as French counsel to IAMGOLD and Fasken Martineau DuMoulin LLP is acting as Canadian legal counsel to IAMGOLD. Claire Karsenti of Sorgem Evaluation advised Board of Directors of EURO Ressources.IAMGOLD France S.A.S. completed the acquisition of remaining 10% stake in EURO Ressources S.A. (ENXTPA:EUR) on February 27, 2024. The EURO Shares have been delisted from the Euronext Paris stock exchange today. Following the delisting, EURO will submit an application to the applicable securities regulators in Canada to cease to be a reporting issuer. Reported Earnings • Nov 13
Third quarter 2023 earnings released: EPS: €0.10 (vs €0.046 in 3Q 2022) Third quarter 2023 results: EPS: €0.10 (up from €0.046 in 3Q 2022). Revenue: €8.69m (up 82% from 3Q 2022). Net income: €6.24m (up 117% from 3Q 2022). Profit margin: 72% (up from 60% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 13
Second quarter 2023 earnings released: EPS: €0.10 (vs €0.052 in 2Q 2022) Second quarter 2023 results: EPS: €0.10 (up from €0.052 in 2Q 2022). Revenue: €7.72m (up 41% from 2Q 2022). Net income: €6.35m (up 95% from 2Q 2022). Profit margin: 82% (up from 59% in 2Q 2022). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 4% per year. 
