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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