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

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 or visit 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.

END

RAGMZGZLZRFGZZM

(END) Dow Jones Newswires

September 28, 2022 08:15 ET (12:15 GMT)

Ormonde Mining (AQSE:ORM)
Historical Stock Chart
From May 2024 to Jun 2024 Click Here for more Ormonde Mining Charts.
Ormonde Mining (AQSE:ORM)
Historical Stock Chart
From Jun 2023 to Jun 2024 Click Here for more Ormonde Mining Charts.