Ormonde announced that it has published a circular, notice of extraordinary general meeting and form of proxy ("the Circular"), relating to the proposed disposal of Ormonde's 30% interest in the Barruecopardo Tungsten Mine ("Proposed Disposal"). As detailed within the Circular, Mr. Michael Donoghue, Chairman and Interim Managing Director, and Mr. John Carroll, non-executive director and Company Secretary, have advised the Board of their intention to retire from the Board and Company as soon as practicable following the completion of the Proposed Disposal. The process to identify and select new non-executive directors to replace these outgoing directors is already well advanced.

The Board intends to announce any nominated new directors ahead of the EGM, with a view to making the new appointments following the completion of the Proposed Disposal to coincide with the retirements of Mr. Donoghue and Mr. Carroll. Also following completion of the Proposed Disposal, the Board intends to appoint Mr. Jonathan Henry, currently a non-executive director of the Company, as Executive Chairman.