Irish Takeover Panel Announcement
Ormonde Mining plc (“Ormonde”)
Almonty Industries Inc. (“Almonty”)
On 9 August 2013 Ormonde announced that it had received an approach from Almonty to acquire Ormonde in a share for share exchange and that the proposal from Almonty was conditional, inter alia, upon the recommendation of the board of Ormonde.
Following representations made by Ormonde and its advisors, and correspondence with the advisors to both Ormonde and Almonty, the Panel has ruled that, except with the consent of the Panel, Almonty must by 5.00 p.m. on 31 January, 2014 either announce an offer for Ormonde under Rule 2.5 of the Takeover Rules or announce that it will not proceed with an offer for Ormonde.
In the event that Almonty announces that it will not proceed with an offer for Ormonde it will, except with the consent of the Panel, be bound by the restrictions contained in Rule 2.8 of the Takeover Rules for 12 months from the date of such announcement.
18 December, 2013