9 Feb 2016 17:59
Metal Tiger Plc
9 February 2016
Metal Tiger Plc
("Metal Tiger" or the "Company")
Issue of Equity for Services
Metal Tiger (LON: MTR), the natural resources investing company is pleased advise that the Company has agreed to issue 4,250,000 shares in lieu of cash for marketing, communications and other professional services provided to the company.
The shares are to be issued at 1p representing a premium of 11.1% against the mid-market price of Metal Tiger shares at close of business on 8th February 2016.
Paul Johnson, Metal Tiger CEO commented: "In today's environment most service providers are eager to receive cash for services, however, in this case we were asked to consider that payment be made in Metal Tiger shares in lieu of cash. This is a great endorsement for the Company and its strategic plans and on this basis we were happy to undertake this modest additional issue of equity.
Metal Tiger is highly active at present and further announcements are likely to be made in the near future across a number of areas of the Company's investment activities."
Issue of Equity Summary
Metal Tiger has agreed to the issue of 4,250,000 Metal Tiger new ordinary shares at price per share of 1p (the "Placing Shares").
The 4,250,000 shares are expected to be admitted to trading on or around 18th February 2016 following the issue of shares the number of ordinary shares in issue in the Company will increase to 419,000,795. 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 419,000,795 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:
Paul Johnson (Chief Executive Officer) | Tel: +44 (0)7766 465 617 | |
Terry Grammer (Non- Executive Chairman) | Tel: +44 (0)207 099 0738 | |
Sean Wyndham-Quin Neil Baldwin Nick Emerson Andy Thacker | Spark Advisory Partners Limited (Nominated Adviser) SI Capital (Sole Broker)
| Tel: +44 (0) 2033 683 555 www.sparkadvisorypartners.com Tel: +44 (0) 1483 413 500 |
Notes to Editors:
Metal Tiger plc is a natural resources focused investing company quoted on the London Stock Exchange AIM Market ("AIM") with the trading code MTR and two investment divisions, Direct Projects and Direct Equities.
The Direct Projects division invests in mineral exploration projects operated by trusted partners on the ground. Projects are selected for their strategic significance in terms of commodity, location and commerciality factors. Key strategic investments to date include Spanish Gold & Tungsten, Thai Gold, Copper & Antimony, and Botswanan Copper & Silver.
The Direct Equities division invests in quoted natural resource explorers and developers, with a combination of shares and warrants and seeks generate trading profits for reinvestment into the Direct Projects division.
Metal Tiger'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.