(Alliance News) - Metal Tiger PLC said Thursday it will commence a share buyback programme worth up to GBP2.0 million, in order to reduce its share capital and the discount to net asset value of its stock price.
The mining investor said it will buy back up to 155.9 million shares via broker Arden Partners PLC, after shareholders approved the authority to do so at the company's general meeting in November. The shares purchased will be held in treasury and later cancelled.
Metal Tiger shares were up 4.1% on Thursday in London at 1.27 pence, making the buyback worth up to GBP2.0 million.
By Tom Waite; thomaslwaite@alliancenews.com
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