21 Dec 2016 15:09
Metal Tiger Plc
21 December 2016
Metal Tiger Plc
("Metal Tiger" or the "Company")
High Court approval of Capital Reduction
Metal Tiger (LON: MTR), the natural resources investing company is pleased to announce that it has today received High Court approval for the cancellation of the Company’s share premium account and cancellation of Deferred Shares (the “Reduction”). The purpose of this Reduction was to create distributable reserves which may be used for corporate purposes, including the payment of dividends.
Michael McNeilly, Chief Executive officer of Metal Tiger plc commented: “Metal Tiger is pleased that this process has now completed. The Company is now in a position where, in the event of a successful exit of one of its core projects, it could envisage paying a dividend to shareholders.”
For further information on the Company, visit: www.metaltigerplc.com:
| Michael McNeilly (Chief Executive Officer) | Tel: +44 (0)20 7099 0738 | ||||
| Keith Springall (Finance Director & Company Secretary) | Tel: +44 (0)20 7099 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 (Joint Broker) | Tel: +44 (0)20 3005 5000 | |||
| Gordon Poole Sean Blundell | Camarco (Financial PR) | Tel: +44 (0)203 757 4980 |
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.
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