5 Dec 2016 07:00
Metal Tiger Plc ("Metal Tiger" or the "Company")
Directorate Change
Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resources announces that Alex Borrelli (Chief Executive Officer) and Jordan Luckett (Technical Director) have resigned from the board of the Company, effective immediately.
Terry Grammer has agreed to step down from his role as Non-Executive Chairman and take on a non-executive director role.
The Company is pleased to announce the appointment of Charles Hall as Non-Executive Chairman, Michael McNeilly as Chief Executive Officer, Paul Johnson as Non-Executive Director and Keith Springall as Finance Director and Company Secretary with immediate effect.
Michael McNeilly, incoming Chief Executive Officer commented: “It has been a pleasure to work with Alex Borrelli and Jordan Luckett, both highly experienced and exceptionally talented individuals. Alex has made a tremendous contribution to the Company during his 5 years with the business, having helped lead the transition from Brady Exploration plc to Metal Tiger plc. In no uncertain terms the business would not be where it is today without him. I wish Alex the utmost success in his other business ventures and in particular BMR Group plc where he has done a great job in turning around the company. Jordan has been a valuable addition to the team and has given great technical insight on the two key projects, Botswana and Thailand. I look forward to continuing to work with Terry Grammer in his new role as non-executive director and he will continue to play an important role in the business going forward.
I am very grateful for the opportunity to step into this exciting and challenging role and to work with the newly constituted board to deliver value to shareholders. Charles Hall has been a supportive shareholder of the company and brings with him a wealth of financial and business management experience. Keith Springall has been fundamental on the finance side of the business and will no doubt contribute further valuable strategic insight at the board level. It is also a tremendous pleasure to welcome back Paul Johnson, who previously served as the company’s CEO where he was instrumental in building the company and its profile in the market.
I believe the Company is now in a unique position with its two core project investments in Thailand and Botswana and is well placed for value creation and I look forward to working with the board, staff and our joint venture partners to realise value for shareholders from these assets.”
The following information is disclosed pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies:
Mr Charles Patrick Stewart Hall aged 56, holds or has held the following directorships or partnerships in the past five years:
| Current: | Previous: | |
| There are no other current directorships | HSBC Private Bank (Luxembourg) S.A. |
Shareholding in the Company: 22,858,406 ordinary shares (representing 3.46% of the total issued share capital).
Mr Paul Johnson, aged 47, holds or has held the following directorships or partnerships in the past five years:
| Current: | Previous: | |
| Thor Mining plc
Metal NRG plc,
Value Generation Limited
Tomas Capital Limited
Value at Risk Limited | Metal Capital Limited
Greatland Gold plc,
Catalyst Strategies Limited
Open 2 Barter Limited,
Commercial Assure Limited
The Vitiligo Society
Catalyst Information Services Limited
Strathmore Accountants Limited. |
Shareholding in the Company: 7,850,555 ordinary shares and Michelle Johnson, wife of Paul Johnson holds 2,340,000 ordinary shares which together total 10,190,555 (representing 1.54% of the total issued share capital).
Mr David Michael McNeilly, aged 30, holds or has held the following directorships or partnerships in the past five years:
| Current: | Previous: | |
| Metal Tiger IHQ Company Limited | There are no past directorships |
Shareholding in the Company: 1,000,000 ordinary shares (representing 0.15% of the total issued share capital).
Mr Keith John Springall aged 60, holds or has held the following directorships or partnerships in the past five years:
| Current: | Previous: | |
| Balmoral Mews (Cobham) Management Company Limited
Bulgarian Property Developments plc (in liquidation)
Springall Limited
WFMH UK Limited (World Federation for Mental Health)
St George's Hill Lawn Tennis Club Limited | Porta Communications PLC Newgate Trading Europe Limited Impact34 Reklam ve Organizayon Danismanlik Hizmetleri Limited Sirketi (in Turkey) Newgate Media Holdings Limited Twenty20 Media Group Limited Impact 34 Limited Newgate PR Holdings Limited Newgate Threadneedle Limited Twenty Four Seven Studios LLP TwentyOne Twelve Communications LLP WFCA PLC (to become WFCA Limited)(then to become 2020Media Vision Limited Team Darwin LLP Newgate Communications LLP Newgate Public Affairs Limited Newgate Public Relations Limited Newgate Brussels SPRL (RPM: 0841.262.588) 21 Twelve Marketing Limited Twenty20 Media Vision Limited Williams Blake Reay Limited 21;12 Direct LLP formerly 21 Twelve Media LLP BComp 416 Limited Velvet Consultancy Ltd Wilton International Consulting Limited Threadneedle Communications Limited Newgate Digital Ltd formerly Newgate Comms Limited Investor Communications International Services Limited Crazy Horse Integrated LLP Newgate Investor Relations LLP Newgate Communications Pty Ltd (Australia) Birkin Student Homes plc Mullin Consultancy Newgate Sponsorship Ltd formerly Cauldron Consulting Ltd |
Keith Springall was a director of PST (International) Limited, which was put into administration on 27 May 2004 with an estimated deficiency as regards creditors of £2,432,055. The administration was ended and the company was put into creditors’ voluntary liquidation on 22 June 2005. Mr Springall had ceased to be a director of this company on 9 March 2004.
Keith was also a director of Universal Storage Logistics Limited, which was put into creditors’ voluntary liquidation on 9 June 2006 with an estimated deficiency as regards creditors of £353,720. Mr Springall had ceased to be a director of this company on 27 October 2005.
Keith was also a director of Bulgarian Property Developments plc, which was put into voluntary members’ liquidation and subsequently wound up on 28 October 2009.
Shareholding in the Company: 564,092 ordinary shares (representing 0.09% of the total issued share capital).
Save as disclosed, there are no other disclosures required in relation to Rule 17 or paragraph (g) of Schedule 2 of the AIM Rules for Companies.
For further information on the Company, visit: www.metaltigerplc.com:
| Michael McNeilly (Chief Executive Officer) | Tel: +44 (0)207 099 0738 | |||
| Keith Springall (Finance Director & Company Secretary) | Tel: +44 (0)207 099 0738 | |||
| Sean Wyndham-Quin | Spark Advisory Partners Limited | Tel: +44 (0) 2033 683 555 | ||
| Neil Baldwin | (Nominated Adviser) | www.sparkadvisorypartners.com | ||
| Nick Emerson | SI Capital | Tel: +44 (0) 1483 413 500 | ||
| Andy Thacker | (Sole Broker) | |||
| Andrew Monk | VSA Capital Limited | Tel: +44 (0) 20 3005 5000 | ||
| Andrew Raca | (Joint Broker) | |||
Notes to Editors:
Metal Tiger plc is listed on the London Stock Exchange AIM Market (“AIM”) with the trading code MTR and invests in high potential mineral projects with a precious and strategic metals focus.
The Company’s target is to deliver a very high return for shareholders by investing in significantly undervalued and/or high potential opportunities in the mineral exploration and development sector timed to coincide, where possible, with a cyclical recovery in the exploration and mining markets. The Company’s key strategic objective is to ensure the distribution to shareholders of major returns achieved from disposals.
Metal Tiger’s Metal Projects Division is focused on the development of its key project interests in Botswana, Spain and Thailand. In Botswana Metal Tiger has a growing interest in the large and highly prospective Kalahari copper/silver belt. In Spain Metal Tiger the Company has tungsten and gold interests in the highly mineralised Extremadura region. In Thailand Metal Tiger has expanding interests over licences, applications and critical historical data covering antimony, copper, gold, silver, lead and zinc opportunities.
The Company has access to a diverse pipeline of new opportunities focused on the natural resource sector including physical resource projects, new natural resource centred technologies and resource sector related fintech opportunities. Pipeline projects deemed commercially viable may be undertaken by Metal Tiger or by an ISDX or AIM partner with whom the Company is engaged.
Metal Tiger also has an Asset Trading Division that holds various financial instruments for trading purposes including equities, warrants and royalty income. The aim of the division is to generate profits to reinvest into the Company’s project based activities.
Note: This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation.
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