12 Dec 2008 11:24
Fresnillo Plc
28 Grosvenor Street
London W1K 4QR
United Kingdom
www.fresnilloplc.com
12 December 2008
Fresnillo plc
("Fresnillo" or the "Company")
Shareholders approve resolution to buy back shares
Fresnillo plc, the world's largest primary silver producer and Mexico's second largest gold producer, announces that at today's shareholders meeting held in London, a special resolution was passed enabling the Company to buy back up to 10 per cent of the number of ordinary shares in issue on 21 November 2008. It was noted that the Company intend to purchase only up to 1.9 per cent of Fresnillo plc's shares so as to keep the Company's free float at 21 per cent or above.
In accordance with Listing Rule 9.6.2, copies of the Special Resolution have been sent to the FSA and may be obtained from the Financial Services Authority, Document Viewing Facility, 25 The North Colonnade, Canary Wharf, London, E14 5HS.
For further information please visit www.fresnilloplc.com or contact:
Fresnillo plc
London Office
Octavio Alvidrez, Head of Investor Relations Tel: +44(0)20 7399 2470
Mexico City Office
Gabriela Mayor Tel: +52555 279 3203
JPMorgan Cazenove Tel: +44 (0)20 7588 2828
Andrew Wray
Brunswick Tel: +44(0)20 7404 5959
Patrick Handley
Carole Cable
About Fresnillo plc
Fresnillo Plc is the world's largest primary silver producer and Mexico's second largest gold producer, listed on the London Stock Exchange under the symbol FRES.
Fresnillo has three producing mines, all of them in Mexico - Fresnillo, Ciénega and Herradura; two advanced development projects - Fresnillo II, Soledad & Dipolos; and three exploration prospects - San Juan, San Julian, Orysivo, as well as a number of other long term exploration prospects and, in total, has mining concessions covering approximately 1.3 million hectares in Mexico.
Fresnillo has a strong and long tradition of mining, a proven track record of mining development and reserves replacement, and a low cost of production, being in the lowest quartile of the cost curve for both silver and gold.
Fresnillo intends to maintain its position as the world's largest primary silver producer with the aim of approximately doubling production, on a silver equivalent ounce basis, within the next ten years and increasing its gold production.
Fresnillo (FRES)