JOHANNESBURG (miningweekly.com) – The High Court in Dublin on Tuesday ruled in favour of gold explorer Conroy Gold and Natural Resources in the case brought against the company by shareholder Patrick O’Sullivan.
O’Sullivan turned to the court after chairperson Richard Conroy blocked him from seeking the appointment of three new directors to the company’s board at an extraordinary general meeting (EGM) in August.
Aim- and ESM-listed Conroy Gold said in a statement that the High Court judge had found that O’Sullivan did not comply with the notification requirements under the articles of association of the company in advance of the EGM and that there was “nothing improper or untoward in the actions of the chairperson at the meeting”.
O’Sullivan had sought the appointment of Paul Johnson, Gervaise Heddle and himself to the Conroy Gold board. At the same EGM, nonexecutive deputy chairperson Seamus FitzPatrick, FD James Jones, as well as nonexecutive directors Dr Sorca Conroy, Louis Maguire, Michael Power and David Wathen were removed from the board.
The company later appointed Dr Karl Keegan and Brendan McMorrow to its board.
O’Sullivan has requested another EGM, scheduled for next month, to remove Conroy and MD Maureen Jones as directors of the company.