REG - Ironveld PLC - Withdrawal of Requisition for General Meeting

IronveldAnnouncement

04/08/2022 08:30

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220804:nRSD9150Ua&default-theme=true

RNS Number : 9150U  Ironveld PLC  04 August 2022

04 August 2022

Ironveld plc

("Ironveld" or the "Company")

Withdrawal of Requisition for General Meeting

 

Ironveld plc ("Ironveld" or the "Company") announces that it has received a
written communication requesting the withdrawal of the requisition for a
General Meeting set for Friday 12 August (the "General Meeting"), from Richard
Jennings, director of Align Research Ltd.

However, with the General Meeting having already been convened by the Ironveld
Board of Directors, and in line with common law practice, as well as the
Company's Articles of Association, the General Meeting cannot be withdrawn or
cancelled. Therefore, the General Meeting will go ahead as planned, and the
Board, particularly in light of the attempted withdrawal, strongly reiterates
its unanimous recommendation that all shareholders vote against all
resolutions.

A statement from the Board of Ironveld,

 

"The Board has reiterated that Mr Jennings' interests did and do not align
with those of the other shareholders, and the attempted withdrawal of the
requisition is further proof of this. It is our strong opinion that Mr
Jennings has wasted management time and shareholder funds.

"We remind shareholders that the share price sat at 0.70p per share,
immediately prior to the announcement of Mr Jennings' actions, causing the
placing to be completed at a significantly lower price.

"Ironveld reserves its position in law and will be seeking advice from its
lawyers in regard to the recouping of losses to the Company and therefore its
shareholders. We again recommend that shareholders vote against Mr Jennings'
resolutions at the General Meeting, so the Company can continue its focus on
realising value at the Project, in order to benefit all of its current and
future stakeholders."

 

**ENDS**

 

For further information, please contact:

 Ironveld plc                              c/o BlytheRay

 Giles Clarke, Chairman                    +44 20 7138 3204

 Martin Eales, Chief Executive Officer

 finnCap (Nomad and Joint Broker)          +44 20 7220 0500

 Christopher Raggett / Charlie Beeson

 Turner Pope (Joint Broker)                +44 20 3657 0050

 James Pope/Andrew Thacker

 BlytheRay                                 +44 20 7138 3204

 Tim Blythe / Megan Ray

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCZZGGRNDMGZZG