Courts / Dublin / Report

Action over gold mining company is adjourned generally

Summary

Patrick O'Sullivan, a minority shareholder holding 28 % of Conroy Gold and Natural Resources plc, brought a High Court action under the Companies Act alleging oppression. He claimed the board, chaired by Professor Richard Conroy, was planning to dilute shareholders before an extraordinary general meeting on 4 August to defeat his resolutions. O'Sullivan's lawyers sought interim orders to prevent dilution. The defendant's counsel, Brian O'Moore, confirmed that no new shares would be issued until the meeting, and that the plaintiff's shares would not be diluted. O'Sullivan's case was described as misconceived, and the parties agreed to a general adjournment, allowing either side to re‑enter if necessary. The court noted that O'Sullivan had previously raised concerns about governance failures and excessive board remuneration. The case was adjourned generally by Mr Justice Tony O'Connor.

Who, what, where, when and why

What: Report matter: Action over gold mining company is adjourned generally. Procedural stage: hearing_or_decision

When:

• August 4th Adjournment
• 2017-07-29 Publication

Places mentioned

Topics

Stage Hearing Or Decision

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Read the original CNI report