REG - Ormonde Mining PLC - Result of AGM & EGM

Ormonde MiningAnnouncement

28/09/2022 13:15

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RNS Number : 0357B  Ormonde Mining PLC  28 September 2022

28 September 2022

Ormonde Mining plc

("Ormonde" or the "Company")

 

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 (http://www.ormondemining.com)

 

Appendix - Results of Voting

 

EGM

 

                                             VOTES FOR    %      VOTES AGAINST  %     VOTES TOTAL**  % of ISC*  VOTES WITHELD
     RESOLUTION

 1   To approve disposal of La Zarza assets  120,851,943  99.77  276,500        0.23  121,128,443    25.64      9,138

 

 

AGM

 

                                                                               VOTES FOR    %      VOTES AGAINST  %     VOTES TOTAL**  % of ISC*  VOTES WITHELD
     RESOLUTION

 1   To receive and consider the accounts for the year ended 31 December 2021  119,069,172  99.72  329,549        0.28  119,398,721    25.27      Nil

 2   To re-elect Mr. Brian Timmons as a director                               118,792,672  99.49  606,049        0.51  119,398,721    25.27      Nil
 3   To authorise the directors to fix the remuneration of the auditors        119,398,668  100    53             0.00  119,398,721    25.27      Nil
 4   To authorise the directors to allot relevant securities                   119,029,753  99.69  368,968        0.31  119,398,721    25.27      Nil
 5   To empower the directors to allot 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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