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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Ironveld Plc | LSE:IRON | London | Ordinary Share | GB0030426455 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0495 | 0.049 | 0.05 | 0.0495 | 0.049 | 0.0495 | 8,403,500 | 14:53:17 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Scrap & Waste Materials-whsl | 103k | -435k | -0.0001 | -5.00 | 1.95M |
TIDMIRON
RNS Number : 9150U
Ironveld PLC
04 August 2022
04 August 2022
Ironveld plc
("Ironveld" or the "Company")
Withdrawal of Requisition for General Meeting
Ironveld plc ("Ironveld" or the "Company") announces that it has received a written communication requesting the withdrawal of the requisition for a General Meeting set for Friday 12 August (the "General Meeting"), from Richard Jennings, director of Align Research Ltd.
However, with the General Meeting having already been convened by the Ironveld Board of Directors, and in line with common law practice, as well as the Company's Articles of Association, the General Meeting cannot be withdrawn or cancelled. Therefore, the General Meeting will go ahead as planned, and the Board, particularly in light of the attempted withdrawal, strongly reiterates its unanimous recommendation that all shareholders vote against all resolutions.
A statement from the Board of Ironveld,
"The Board has reiterated that Mr Jennings' interests did and do not align with those of the other shareholders, and the attempted withdrawal of the requisition is further proof of this. It is our strong opinion that Mr Jennings has wasted management time and shareholder funds.
"We remind shareholders that the share price sat at 0.70p per share, immediately prior to the announcement of Mr Jennings' actions, causing the placing to be completed at a significantly lower price.
"Ironveld reserves its position in law and will be seeking advice from its lawyers in regard to the recouping of losses to the Company and therefore its shareholders. We again recommend that shareholders vote against Mr Jennings' resolutions at the General Meeting, so the Company can continue its focus on realising value at the Project, in order to benefit all of its current and future stakeholders."
**ENDS**
For further information, please contact:
Ironveld plc c/o BlytheRay Giles Clarke, Chairman +44 20 7138 3204 Martin Eales, Chief Executive Officer finnCap (Nomad and Joint Broker) Christopher Raggett / Charlie Beeson +44 20 7220 0500 Turner Pope (Joint Broker) James Pope/Andrew Thacker +44 20 3657 0050 BlytheRay Tim Blythe / Megan Ray +44 20 7138 3204
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END
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(END) Dow Jones Newswires
August 04, 2022 03:23 ET (07:23 GMT)
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