Ormonde Mining plc plans a capital reorganisation to consolidate its shares, improve its current market price of €0.01 per share and attract new investors.
The proposal is on the basis of one new ordinary share and one B deferred share for every 50 existing ordinary shares of €0.01 each.
The company will first subdivide each issued and unissued existing ordinary share into one ordinary share of €0.00001 and one B deferred share of €0.00999.
A consolidation of the issued and unissued subdivided ordinary shares will then create the new ordinary shares of €0.0005 each.
As at 14 July 2026, the Dublin-based company had 477,507,482 shares in issue.
On completion, each existing shareholder will hold one new ordinary share and one B deferred share in place of 50 existing shares held.
The subsequent issued share capital will comprise 9,550,150 new ordinary shares and 477,507,482 B deferred shares.
Ormonde shareholders are due to vote on the proposition on 27 October 2026 at an extraordinary general meeting.
The company has exploration investments in copper-gold in Newfoundland, Canada, nickel-copper-cobalt in Aberdeenshire, Scotland, and also owns two exploration licences in the Zamora province of Western Spain.