Metal Tiger PLC - investor in natural resources opportunities - Says it is in the best interest of the company and its shareholders to proceed with the cancelling of its shares trading on London's AIM market, without applying for admission of its shares to trading on the SFS or any other market in the UK. Will retain trading on the Australian Securities Exchange. Says this will result in the company having "greater flexibility" to manage its portfolio, allow it to implement its new investing policy and "better position it to pursue and achieve its investment objectives in the future by being able to trade in a more efficient manner".
Explains under its new investing policy it would seek to "achieve its investment objectives through a combination of 'Core Investments' and 'Complementary Investments'". Core investment would comprise of invest financial products issued by companies which are predominately admitted to trading on recognised stock exchanges including, but not limited to, the ASX, the Canadian Securities Exchange, and the London Stock Exchange. Complementary investment would comprise of investment in "complementary business verticals, with a focus on commercial businesses or funds with separate management teams with that support investment in and the funding of companies and/or projects within the mining sector."
The company expects the AIM cancellation to take place on March 31.
Current stock price: 8.60 pence, closing 31% lower in London on Thursday
12-month change: down 54%
By Heather Rydings, Alliance News senior economics reporter
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