RNS27 Aug 2020 10:27
Sandfire Resources Update (ASX: SFR)
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Metal Tiger plc (MTR)
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Thursday 27 August, 2020
Metal Tiger plc
Sandfire Resources Update (ASX: SFR)
Sandfire Resources Update (ASX: SFR)
Metal Tiger plc
27 August 2020
Metal Tiger plc
(“Metal Tiger” or the “Company”)
Sandfire Resources Update (ASX: SFR)
Metal Tiger plc (AIM: MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, is pleased to provide an update in relation to its investment in Sandfire Resources Limited (“Sandfire”).
Sandfire has today released its financial results for the year ended 30 June 2020 full and announced a A$0.14 dividend per Sandfire share.
Metal Tiger is currently interested in 6,296,990 Sandfire shares, representing approximately 3.5% of Sandfire’s issued share capital. As announced on 31 July 2020, 2,609,887 of the Sandfire shares held by the Company are subject to an equity derivative financing arrangement with a global investment bank (the “Umbrella Facility”).
Accordingly, assuming that Metal Tiger maintains its current interest in Sandfire as at the record date (15 September 2020), Metal Tiger will receive approximately A$516k (approximately £283k) on 29 September 2020, being the dividend due in respect of the Sandfire shares not subject to the Umbrella Facility. The balance of the dividend, being approximately A$365k due in respect of the Sandfire shares the subject to the Umbrella Facility, will reduce the outstanding balance due pursuant to the Umbrella Facility from A$11.765m to A$11.4m.
https://www.investegate.co.uk/metal-tiger-plc--mtr-/bus/sandfire-resources-update--asx--sfr-/20200827092200Z8969/