Ironveld PLC Withdrawal of Requisition for General Meeting (9150U)
04 Agosto 2022 - 04:23AM
UK Regulatory
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General Meeting cannot be withdrawn or cancelled.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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