Ormonde Mining PLC
05 April 2004
Ormonde Mining plc
Colin Andrew steps down as Chairman to allow Ormonde to progress freely in Spain
The Board of Ormonde Mining plc ("Ormonde" or "the Company") announces that Mr.
Colin Andrew has voluntarily stepped down as Chairman due to the emerging
increased possibility of conflicts of interest with his position as Director of
Operations of Cambridge Mineral Resources plc ("Cambridge"). Mr. Andrew has
recently taken on a more active role in Cambridge's activities in Spain,
Ormonde's main country of operation. Mr. Andrew will cease in his role as
Chairman with immediate effect, but will continue to serve on the Board of
Ormonde as a Non-Executive Director.
Commenting on his decision, Mr. Andrew said "The Board remains firmly committed
to its objective to create value for Ormonde shareholders through its Spanish
gold projects, and I do not want potential conflicts of interest on my part to
confine the Company's progress in any way. Ormonde has tremendous spirit, which
I look forward to sharing by continuing to be involved as a Non-Executive
Director."
The Board compliments Mr. Andrew's professionalism in taking this action, and
sincerely thanks him for his endeavours since joining Ormonde as Chairman in
April 2001, which include re-listing and funding the Company at that time, and
the introduction of the current management. The other Directors look forward to
Mr. Andrew's ongoing involvement on the Board.
Mr. Michael Donoghue has been appointed Non-Executive Chairman with immediate
effect. Mr. Donoghue is already a Non-Executive Director and served as Chairman
up to April 2001, so will assume the role seamlessly.
Ormonde Mining plc is a European exploration company trading on the Exploration
Securities Market (ESM) of the Irish Stock Exchange and on the SEAQ facility in
London. The Company is focused on developing gold projects in Europe with a
particular emphasis on Spain. Further information about Ormonde and its
activities are available on its website at www.ormondemining.com.
Enquiries to:
Kerr Anderson - Managing Director
Ormonde Mining plc
Tel: 00 353 46 9073623
kanderson@ormondemining.com
John Carroll - Director
Ormonde Mining plc
Tel: 00 353 1 492 2936
offacc@iol.ie
Eugenee Mulhern
Davy Corporate Finance Limited
Tel: 00 353 1 679 6363
5 April 2004
This information is provided by RNS
The company news service from the London Stock Exchange