RE: Rise13 Feb 2020 15:10
Result of EGM
Ormonde announces that the ordinary resolution to approve the disposal of the Company's 30% interest in the Barruecopardo Tungsten Mine, as proposed to shareholders at the Company's Extraordinary General Meeting held in Dublin today, was duly passed.
Closing obligations of the parties, including the payment by Oaktree to Ormonde of the €6 million disposal proceeds, are due to be completed in the coming days. In accordance with the Sale and Purchase Agreement, completion must occur within a maximum of 5 business days of Ormonde having received shareholder approval for the disposal. A further update will be provided once completion has occurred.