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8 Nov 2016 09:19
Metal Tiger Plc
("Metal Tiger" or the "Company")
FORMER DIRECTOR OPTION CONVERSION
Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource opportunities is pleased to announce that Paul Johnson, former Chief Executive Officer of Metal Tiger plc has provided the Company with an early exercise notice for a portion of his outstanding options.
On 7 November 2016 Paul Johnson issued Metal Tiger with an option exercise for three million shares in the Company at a price of 2p for a total of £60,000.
Alex Borrelli Chief Executive Officer of Metal Tiger said “I am delighted that Paul has chosen to exercise his options early which makes a clear statement to market of his belief in the Company’s business model and in the future plans and potential of the Company.
The natural resource sector has recently encountered a significantly challenging phase with the share price of many resource companies falling considerably. Metal Tiger has suffered from this sector pullback, but despite this our business is continuing to make material progress.
Much of our work of late has been in the background and shareholders may not be fully aware of the extent of progress at this time. However it is our intent to provide further updates to market in the near term to outline what has been achieved. These updates will encompass the progress of our Joint Ventures in Thailand and Botswana where the Company’s key investments are situated.
I would like to take this opportunity to thank shareholders for their continuing support and note that the board recognise the importance of delivering share price performance and, at the appropriate time, returns of value to those shareholders who have committed to the Company and remained on the register.”
Share Admission and Total Voting Rights
The 3,000,000 new ordinary shares are expected to be admitted to trading on or around 14 November 2016. Following the issue of the new ordinary shares, the number of ordinary shares in issue in the Company will increase to 659,381,541. For the purposes of the Financial Conduct Authority's Disclosure and Transparency Rules ("DTRs"), the issued ordinary share capital of Metal Tiger following this allotment consists of 659,381,541 ordinary shares with voting rights attached (one vote per share). There are no shares held in treasury. This total voting rights figure may be used by shareholders as the denominator for the calculation by which they will determine whether they are required to notify their interest in, or a change to their interest in, Metal Tiger under the DTRs.
For further information on the Company, visit: www.metaltigerplc.com:
| Alex Borrelli (Chief Executive Officer) | Tel: +44 (0)207 099 0738 | |||
| Terry Grammer (Non-Executive Chairman) | Tel: +44 (0)207 099 0738 | |||
| Sean Wyndham-Quin
Neil Baldwin | Spark Advisory Partners Limited
(Nominated Adviser) | Tel: +44 (0)2033 683 555
www.sparkadvisorypartners.com | ||
| Nick Emerson
Andy Thacker | SI Capital
(Joint Broker) | Tel: +44 (0) 1483 413 500 | ||
| Andrew Monk
Andrew Raca | VSA Capital Limited
(Financial Adviser and Joint Broker) | Tel +44 (0) 20 3005 5000 |
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161108005455/en/
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