Atalaya Mining Plc (AIM: ATYM, TSX: AYM) notes the announcement on 1 April 2022 by ICBC Standard Bank Plc ('ICBCS') confirming the sale of the entire holding of Yanggu Xiangguang Copper Co. Ltd ('XGC') (via its subsidiary, Hong Kong Xiangguang International Holdings Ltd), in Atalaya.
The Company therefore understands that XGC has ceased to be a shareholder.
Under the terms of the original investment agreement dated 28 May 2015 between XGC and the Company, XGC were entitled to appoint a non-executive director should XGC's shareholding be equal to or greater than 10% of the total issued share capital of the Company. Based on this information, the Company confirms XGC's board nomination rights under the agreement are no longer in place.
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About Atalaya Mining Plc
Atalaya is an AIM and TSX-listed mining and development group which produces copper concentrates and silver by-product at its wholly owned Proyecto Riotinto site in southwest Spain. Atalaya's current operations include the Cerro Colorado open pit mine and a modern 15 Mtpa processing plant, which has the potential to become a centralised processing hub for ore sourced from its wholly owned regional projects around Riotinto that include Proyecto Masa Valverde and Proyecto Riotinto East. In addition, the Group has a phased, earn-in agreement for up to 80% ownership of Proyecto Touro, a brownfield copper project in the northwest of Spain.
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