Ormonde Mining PLC Result of AGM & EGM (0357B)
28 September 2022 - 2:15PM
UK Regulatory
TIDMORM
RNS Number : 0357B
Ormonde Mining PLC
28 September 2022
28 September 2022
Ormonde Mi n i ng p lc
("Or m onde" or the "C o m pany ")
Result of AGM and EGM
&
Update on Sale of La Zarza Assets
Ormonde announces that at its Annual General Meeting ("AGM") and
Extraordinary General Meeting ("EGM") held earlier today, all
resolution were duly passed. Accordingly, Ormonde is pleased to
confirm the sale of its interests in the La Zarza Copper-Gold
Project in Spain as announced on 29 July 2022 (the "Sale") is now
unconditional.
A further announcement will be made upon completion of the Sale,
which is anticipated to occur imminently.
Following completion of the Sale, Ormonde will become an AIM
Rule 15 cash shell and, as such, will be required to make an
acquisition or acquisitions constituting a reverse takeover under
AIM Rule 14 and Euronext Growth Market rules on or before the date
falling six and twelve months respectively from completion of the
Sale. If no such acquisition or acquisitions are made, the
Company's shares would be suspended from trading pursuant to AIM
Rule 40 and the Euronext Growth Market rules.
The results of voting at the AGM and EGM are provided in the
appendix below.
Brendan McMorrow, Chief Executive Officer, commented:
"I would like to thank Ormonde's shareholders for their support
in completing this transaction. To release value from La Zarza at a
premium to book value is an excellent outcome for the Company and
its shareholders.
Ormonde has the financial resources to pursue transformative
acquisition opportunities and to generate considerable shareholder
value in the coming months and years. We are working assiduously to
identify an optimal project for the Company."
For further information, please contact :
Ormonde Mining plc
Brian Timmons, Non-Executive Chairman
Tel: +353 (0)1 801 4184
Vigo Consulting (Investor Relations)
Ben Simons / Charlie Neish
Tel: 44 (0)20 7390 0230
Davy (Nomad, Euronext Growth Listing Sponsor and Joint
Broker)
Barry Murphy
Tel: +353 (0)1 679 6363
Company website: www.ormondemining.com
Appendix - Results of Voting
EGM
VOTES FOR % VOTES % VOTES % of VOTES
AGAINST TOTAL** ISC* WITHELD
RESOLUTION
--------------------- ----------- ----- -------- ---- ----------- ----- --------
To approve disposal
1 of La Zarza assets 120,851,943 99.77 276,500 0.23 121,128,443 25.64 9,138
--------------------- ----------- ----- -------- ---- ----------- ----- --------
AGM
VOTES FOR % VOTES % VOTES % of VOTES
AGAINST TOTAL** ISC* WITHELD
RESOLUTION
------------------------ ----------- ----- -------- ---- ----------- ----- --------
To receive and
consider the accounts
for the year ended
1 31 December 2021 119,069,172 99.72 329,549 0.28 119,398,721 25.27 Nil
--- ------------------------ ----------- ----- -------- ---- ----------- ----- --------
To re-elect Mr.
Brian Timmons
2 as a director 118,792,672 99.49 606,049 0.51 119,398,721 25.27 Nil
------------------------ ----------- ----- -------- ---- ----------- ----- --------
To authorise the
directors to fix
the remuneration
3 of the auditors 119,398,668 100 53 0.00 119,398,721 25.27 Nil
------------------------ ----------- ----- -------- ---- ----------- ----- --------
To authorise the
directors to allot
4 relevant securities 119,029,753 99.69 368,968 0.31 119,398,721 25.27 Nil
------------------------ ----------- ----- -------- ---- ----------- ----- --------
To empower the
directors to allot
5 equity securities 119,359,302 99.97 39,419 0.03 119,398,721 25.27 Nil
------------------------ ----------- ----- -------- ---- ----------- ----- --------
ISC - Issued Share Capital
*
** Excludes votes withheld
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