RNS Number : 6096N
Ormonde Mining PLC
30 September 2021
 

30 September 2021

 

 

Ormonde Mining plc

("Ormonde" or "the Company")

 

Result of AGM

Change of Board and

Resignation of Executive Team

 

 

Ormonde announces the results of voting on the resolutions considered by shareholders at the Company's Annual General Meeting held in Dublin today, which was held by way of a poll.  The poll results from the meeting are provided in Table A below.

 

As a result of the vote on Resolution 2 - the re-election of Mr. Tim Livesey, the Senior Independent Director at the time of the AGM - not being carried, he is no longer a director of the Company.  The Board wishes to thank Mr. Livesey for his valued contribution during his time with the Company.

 

As a result of the vote on Resolutions 7 and 8, Mr. Brendan McMorrow and Mr. Keith O'Donnell have joined the Board with immediate effect.

 

Following the results of the meeting and particularly Mr. Livesey having not been re-elected to the Board, the executive management team of the Company, being Mr. Jonathan Henry (Executive Chair), Mr. Paul Carroll (CFO and Company Secretary) and Mr. Fraser Gardiner (COO) (the "Executives") resigned from their positions.  Mr. Brown, the remaining independent director, has also decided to resign from the Board of the Company with immediate effect. Mr. Henry will step down from his Board position and Mr. Carroll will step down from his position as Company Secretary with immediate effect. The Board would like to thank these individuals for their service to the Company.

 

The Executives have agreed to work through their notice periods in order to manage the essential Company functions while a new management team is identified.

 

Following the AGM, the Board will now consist of Mr. Brian Timmons, Mr. Brendan McMorrow and Mr. Keith O'Donnell.

 

The Board intends to continue with the Company's existing strategy being to acquire, explore and develop mining projects in which it would have a controlling interest. During the notice period of the Executives', the Board intends to engage the required management resource for the continuation of this strategy.

The Board will update shareholders in due course.

 

Table A

 



VOTES FOR

%

VOTES AGAINST

%

VOTES TOTAL

% of ISSUED SHARE CAPITAL VOTED


RESOLUTION

 

 


 

 




1

To receive and consider the accounts for the year ended 31 December 2020.

123,235,082

100.00

2,000

0.00

123,237,082

26.08

2

To re-elect Mr. Timothy Livesey as a director.

22,328,867

18.12

100,906,215

81.88

123,235,082

26.08

3

To authorise the directors to fix the remuneration of the auditors.

123,237,082

100.00

0

0.00

123,237,082

26.08

4

To increase the authorised share capital of the Company.

122,142,677

99.49

631,215

0.51

122,773,892

25.98

5

To authorise the directors to allot relevant securities.

122,672,894

99.59

511,188

0.41

123,184,082

26.07

6

To empower the directors to allot equity securities.

122,653,867

99.53

580,215

0.47

123,234,082

26.08

7

To elect Mr. Keith O'Donnell as a director.

117,959,427

91.75

10,603,299

8.25

128,562,726

27.21

8

To elect Mr. Brendan McMorrow as a director.

117,981,427

91.75

10,603,299

8.25

128,584,726

27.21

 

 

Enquiries to:

 

Ormonde Mining plc

Brian Timmons

Tel: +353 (0)1 8014184

 

Buchanan

Bobby Morse / Ariadna Peretz / James Husband

Tel: +44 (0)20 7466 5000

Email: ormonde@buchanan.uk.com 

 

Davy (Nomad, Euronext Growth Advisor and Joint Broker)

John Frain

Tel: +353 (0)1 679 6363

 

SP Angel Corporate Finance LLP (Joint Broker)

Ewan Leggat

Tel: +44 (0)20 3 470 0470

 

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