13 Feb 2020 13:53
13 February 2020
Ormonde Mining plc
("Ormonde" or "the Company")
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.
The resolution was decided on a show of hands. The number of proxy votes assigned to the Chairman of the meeting for and against the resolution were as follows:
Votes for (including discretion) | Votes against | Total Votes cast | ||||
No. of shares | % of shares voted | No. of shares | % of shares voted | No. of shares | % of issued share capital* | |
Resolution to approve Proposed Disposal | 25,519,060 | 87.15 | 3,762,000 | 12.85 | 29,281,060 | 6.21 |
* The issued share capital of the Company is 472,507,482 ordinary shares of nominal value €0.01 each.
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.
Enquiries to:
Ormonde Mining plc
Paul Carroll, Chief Financial Officer
Fraser Gardiner, Chief Operating Officer
Tel: +353 (0)1 8014184
Davy (Nomad, Euronext Growth Advisor and Joint Broker)
John Frain / Barry Murphy
Tel: +353 (0)1 6796363
SP Angel Corporate Finance LLP (Joint Broker)
Ewan Leggat
Tel: +44 (0)20 3 470 0470