Update on Migration

RNS Number : 1687S

Ormonde Mining PLC

12 March 2021

 

12 March 2021

Ormonde Mining plc

("Ormonde" or the "Company")

UPDATE ON MIGRATION OF UNCERTIFICATED SHARES FROM

CREST TO THE EUROCLEAR BANK SYSTEM

Ormonde confirms that it has taken all steps in connection with the proposed migration of the electronic holding and settlement of its shares from the CREST system to the Euroclear Bank system ("Migration").

Migration is expected to take effect on 15 March 2021, with the migration to Euroclear Bank of the holding and settlement of the securities of all Irish companies with securities that are listed and traded in Dublin and/or London.

Migration

As previously announced, at the extraordinary general meeting of the Company held on 18 February 2021 (the "EGM"), shareholders approved the Migration and authorised the Board of Directors of the Company to take all steps necessary to implement it.

In accordance with the terms of the Migration of Participating Securities Act 2019 and these authorities, the Company has consented to the Migration and has made the requisite notifications to the Irish Companies Registration Office and Euronext Dublin. Accordingly, all steps required to be taken by the Company to give effect to the Migration have now been completed.

Timetable for Migration

Euronext Dublin announced on 8 March 2021 that the Migration remains scheduled to occur over the period of 12-15 March 2021 in line with the indicative timetable that was included in the Company's circular to shareholders in relation to the EGM (the "EGM Circular"). Euronext Dublin has advised that the 'live date' on which the Migration is to take effect is 15 March 2021. This timetable remains subject to change by decision of Euronext Dublin.

Euronext Dublin maintains a dedicated web page relating to the Migration (on which details of the timetable and other relevant details can be found) at the following link: https://www.euronext.com/en/migration-csd-services-for-irish-securities-crest-euroclear-bank  

Actions to be taken by Ormonde shareholders

For Ormonde shareholders who hold their shares in paper form (i.e. outside of CREST and in "certificated" form) there will be no change to what is owned and how it is held. Therefore, the impact of Migration on such shareholders is expected to be minimal and no immediate action is required.

For Ormonde shareholders who hold their shares through CREST (in uncertificated form), Migration will result in changes to what is technically owned, how the interest is held, and how rights related to the shares will be exercised. Such shareholders should consult their own broker, custodian or other independent professional advisers in this regard.  Details of changes resulting from Migration are set out in the EGM Circular. 

Important notes

Unless the context otherwise required, defined terms used in this announcement have the meanings given to them in Part 9 of the EGM Circular.  

Enquiries to:

Ormonde Mining plc

Jonathan Henry, Executive Chairman

Paul Carroll, Chief Financial Officer

Fraser Gardiner, Chief Operating Officer

Tel: [phone]

Buchanan

Bobby Morse / Ariadna Peretz / James Husband

Tel: [phone]

Email: [e-mail]  

Davy (Nomad, Euronext Growth Advisor and Joint Broker)

John Frain / Barry Murphy

Tel: [phone]

SP Angel Corporate Finance LLP (Joint Broker)

Ewan Leggat

Tel: [phone]

 

END

 

 

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