(Correcting Johnson's position in headline to executive director.)
LONDON (Alliance News) - Metal Tiger PLC said Paul Johnson, an executive director, bought 1.5 million shares at an average price of 0.967 pence per share for a total additional personal investment in the company of around GBP14,500 Monday.
Following this purchase, Johnson is interested in 5.6 million shares representing 1.85% of the issued share capital.
Commenting on the purchase Johnson said, "I am pleased to be able to buy a further holding today, and it is my intention to further increase my position, subject to the usual close period restrictions going forward."
In January Metal Tiger moved Johnson from non-executive director to an executive director position, in order to help identify, assess and manage its investments.
"Personally I believe Metal Tiger is considerably undervalued versus its current interests and forward potential in the natural resources marketplace. The market valuation of Metal Tiger has been constrained by market conditions, as is the case with most companies occupying this sector. Such conditions do not persist forever, and on the assumption of a recovery Metal Tiger is well placed to perform well for investors going forward." he added.
Shares in the natural resources investing were up 3.0% at 0.978p Monday.
By Arvind Bhunjun; arvindbhunjun@alliancenews.com; @ArvindBhunjun
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