Ormonde Mining Share Discussion Threads

[juju44] 09/2/2021 10:26

My vote is actioned

[rakitom] 08/2/2021 10:21

From the company.

Thank you for your email. The EGM is not a corporate action such as would typically be issued to shareholders via our registrars, but is a call to vote at a general meeting which is being dealt with in different ways by different brokers and custodians. We have been reaching out directly to the main brokers and custodians to support voting by their underlying beneficial holders. We have also obtained details of beneficial holders within these nominee accounts and have just recently sent a letter to holders above a certain shareholding threshold so as to let them know about the EGM and how they should instruct their broker/custodian (as they would not have received a circular or form of proxy and may not be aware of the EGM).


The vote has been cancelled 2 times. Message is not getting through

[32campomar] 06/2/2021 20:23

Also yes re director shares that's a fair point, if they have been deemed to be in receipt of insider info perhaps the nomad had not allowed them to buy shares. That said, it is unusual.

[32campomar] 06/2/2021 20:20

Thankyou for your reply much appreciated. I just have a small number of shares (50k) at the moment but I'm hesitant to buy more as I'm concerned if they don't get enough votes this may fall sharply to a cash NAV value which is probably around half the current price - or it could be suspended for a period of time and I wouldn't be able to get my cash back.

[willir20] 06/2/2021 19:27

A very good question, Campoamor, which I have also asked. Directors having skin in the game is one the key criteria for me when running a yardstick over a potential investment. We should, however, remember that this is a new BoD and that the Company is no longer the prospective tungsten miner of old. To be fair to the BoD, we may assume there has probably not been much of a window of opportunity for share purchases in the last 12 months where directors have been far enough away from deliberations about the future shape of things (and the price-sensitive inside knowledge that this implies) to invest here without breaking the usual safe distance protocol.

Your second question will have to be addressed if the votes cast do not amount to a third of the total number eligible to vote (or if 50% are not in favour, which I think unlikely). I dare say there may be some other route to re-listing but logically the BoD will have taken expert advice and already gone for the simplest and most straightforward solution, trusting that investors will rally to the cause and vote their support in large numbers.

[32campomar] 06/2/2021 16:30

FWIW my opinion is the deal to acquire the copper assets should be huge in the current climate. But, I find it very strange if not disconcerting that not one director owns ANY shares in the company. In fact it's the only company I have ever come across where this is the case. How can this be, if the deal is this good? It's a fair enough question has anyone any thoughts? Also what would happen if there aren't enough votes?

[willir20] 06/2/2021 13:45

I got through to Halifax Sharedealing yesterday by telephone after a long wait and arranged for my votes (no charge)in favour of the EGM resolutions to be recorded, naming the chair as my proxy. I also sent off a secure message to Interactive investor with the same request (again no charge). So an additional 1m votes to be logged in favour of the resolutions. An additional, smaller (though still quite chunky) tranche that I hold with EQi (formerly Selftrade) will be dealt with first thing on Monday. (If I recall correctly, also nil charge for this service.)

It is crucial that investors realise the importance to the Company and its shareholders of securing a third of the overall total of ORM shares pledged as votes in this meeting, with at least 50% of that number in favour of the resolutions, in order that a re-registration through the Belgian exchange can take place. It follows that we should all make the effort to get our votes sent off in time to arrive by the receipt deadline of 11.00am, 16th February.

Anyone wishing to read the fine detail concerning the EGM/AGM and resolutions can find a lengthy document, which explains all, on the Company website.

Time is fast elapsing if you have not yet got your voting intentions registered.

[ross k] 04/2/2021 16:23

Will we see some buying pressure before the EGM thats just around the corner

[rakitom] 01/2/2021 15:18

ORMONDE MINING PLC   ;          ;          ;          ;          ;          ;        
ISIN:
Meeting Date: 18-Feb-2021
Meeting Type: ExtraOrdinary General Meeting Record/Holdings Date: 16-Feb-2021
Proposals: MFFF
Shares: 384000

[rakitom] 01/2/2021 14:51

I’ve advised my broker to vote yes 384,000 every little helps

[rakitom] 31/1/2021 23:36

Why vote yes, the BOD have not released the information required to vote yes.

[fund1] 31/1/2021 23:09

Just be sure to vote yes

[rakitom] 29/1/2021 19:18

Euroclear platform it’s to dovv by with Brexit. Ormond is an Irish company, probably less costs trading on euro country market

[rakitom] 29/1/2021 19:18

Euroclear platform it’s to dovv by with Brexit. Ormond is an Irish company, probably less costs trading on euro country market

[mpilot] 29/1/2021 15:17

Is anyone making sense of the EGM resolutions that are scheduled for the 18th Feb.

Looks like the Company is moving over to the Belgium exchange, Euroclear.

Thoughts??

[mam fach] 29/1/2021 14:16

Any idea why we have had four price monitoring extensions today.
Someone selling or buying?
Not showing up in trades yet.

[jbe81] 29/1/2021 10:59

Yes, all sellers now gone from the auction

[ross k] 29/1/2021 10:18

This looks like it's about to take off Someone in the background buying, either building a stake or adding to one.

[jbe81] 28/1/2021 11:31

Yep, would expect it to start heading up next week, held up well last 2 days considering the wider market

[walkerjameswalker] 28/1/2021 11:04

Great buying opportunity.

[rostallagh] 27/1/2021 13:49

Vote Rio. With Rio the only way is up

[32campomar] 27/1/2021 08:03

Didn't realise directors own NO shares at all and there are no major shareholders other than one individual. How odd. No wonder the board are concerned about getting a third to vote.

[fund1] 26/1/2021 21:25

It shouldn't be but we can't take nothing for granted

[32campomar] 26/1/2021 20:11

Thomas Anderson owns 21% himself so it can't be difficult to get to one third surely?

[fund1] 26/1/2021 17:52

Just a reminder of what the company as said regarding the vote. It's a little worrying that it as never crossed that threshold in recent years. The Company notes that it has not achieved the threshold of one third of issued shares being voted at any AGM or EGM over recent years. Therefore, it is of critical importance, no matter how shares are held, that shareholders vote by proxy ahead of the EGM, with the Ormonde Board recommending that Shareholders vote in favour of each resolution.