27 Jan 2020 16:39
27 January 2020
Ormonde Mining plc
("Ormonde" or the "Company")
Publishing of Circular and Proposed Board Changes
Ormonde announces that it has published a circular, notice of extraordinary general meeting and form of proxy ("the Circular"), relating to the proposed disposal of Ormonde's 30% interest in the Barruecopardo Tungsten Mine ("Proposed Disposal"). The Circular has been posted to shareholders today, with a copy of the document to be available shortly on the Company's website www.ormondemining.com, in accordance with the AIM and Euronext Growth Market Rules.
The Extraordinary General Meeting to seek shareholder approval for the Proposed Disposal will be held at the Crowne Plaza Hotel, The Blanchardstown Centre, Blanchardstown, Dublin 15, at 11.00am on Thursday 13 February 2020 (a change from the previously indicated date of 12 February 2020).
As detailed within the Circular, Mr. Michael Donoghue, Chairman and Interim Managing Director, and Mr. John Carroll, non-executive director and Company Secretary, have advised the Board of their intention to retire from the Board and Company as soon as practicable following the completion of the Proposed Disposal.
The process to identify and select new non-executive directors to replace these outgoing directors is already well advanced. The Board intends to announce any nominated new directors ahead of the EGM, with a view to making the new appointments following the completion of the Proposed Disposal to coincide with the retirements of Mr. Donoghue and Mr. Carroll. New director appointees will then be subject to re-election by Shareholders at the next Annual General Meeting of the Company, which will be held at the earliest practicable date.
Also following completion of the Proposed Disposal, the Board intends to appoint Mr. Jonathan Henry, currently a non-executive director of the Company, as Executive Chairman.
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)1 679 6363
SP Angel Corporate Finance LLP (Joint Broker)
Ewan Leggat
Tel: +44 (0)20 3 470 0470