26 May 2021 08:23
26 May 2021
Metal Tiger plc
("Metal Tiger" or the "Company")
Update: ASX Compliance Listing
Metal Tiger plc (AIM: MTR), the London Stock Exchange AIM listed investor in natural resource opportunities is pleased to announce that, further to its announcement of 29 January 2021, the Australian Securities Exchange (“ASX”) has confirmed that Metal Tiger will be admitted to the Official List of the ASX and 9,111,810 Metal Tiger CHESS Depositary Interests (“CDIs”) will be officially quoted under the ticker ASX:MTR, from 27 May 2021.
Shareholders should note the following key points (non-exhaustive) will apply to Metal Tiger in terms of its commitments and obligations as a result of the ASX listing:
The terms of existing options and warrants remain unchanged, however, future options and warrants that may be issued must be on terms which are compliant with the ASX listing rules. The ASX listing rules have a number of requirements with respect to the terms of options and warrants and what must be included in those terms, including that any change to the terms of options or warrants as a result of reorganisations, changes to share capital etc are done in accordance with calculation set out in the listing rules. Accordingly, Metal Tiger is considering potential amendments to its existing incentive plans and will seek shareholder approval for any such amendments as appropriate.The listing on ASX is a compliance listing with no capital being raised. A capital raising conducted within the next 12 months will require a prospectus in accordance with Australian regulatory requirements.As an ASX listed entity, Metal Tiger will be subject to ASX periodic disclosure requirements and enhanced continuous disclosure requirements. Periodic disclosure requirements include:monthly net tangible assets (“NTA”) reporting (at the latest 14 days after month end);half year reports (latest 2 months after period end); andfull year financial reporting (latest 3 months after period end).Investors should note that the time periods for these reporting requirements are different to what is currently required by the Company and that the Company has no obligation under the AIM Rules for Companies to report NTA monthly. Other minor reporting requirements relating to the movement of shares from the CHESS sub-register (Australian subregister) to the ordinary share register (UK sub register) and vice-versa will be required 5 days after each month end.
Documents pertinent to the ASX Listing (including updated corporate governance policies) can be found at the following link:
https://www.metaltigerplc.com/investors/aim-rule-26
https://www.metaltigerplc.com/Corporate-Governance
Shareholders wishing to transfer their shares from the United Kingdom Register (Ordinary Shares) to the Australian Register (CDI’s) can find the appropriate instructions and form at the following link:
https://www.metaltigerplc.com/investors/cross-border-movement-of-shares-cdi-s
Instructions to transfer CDI’s from the Australian Register to the United Kingdom Register (Ordinary Shares) are also available at the above link.
For further information on the Company, visit: www.metaltigerplc.com
Enquiries:
Michael McNeilly | (Chief Executive Officer) | Tel: +44 (0)20 3287 5349 |
Mark Potter | (Chief Investment Officer) |
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James Dance Georgia Langoulant | Strand Hanson Limited (Nominated Adviser) | Tel +44 (0)20 7409 3494 |
Paul Shackleton Steve Douglas | Arden Partners plc (Broker) | Tel: +44 (0)20 7614 5900 |
Gordon Poole James Crothers Hugo Liddy | Camarco (Financial PR) | Tel: +44 (0)20 3757 4980 |
Notes to Editors:
Metal Tiger PLC is admitted to the AIM market of the London Stock Exchange AIM Market ("AIM") with the trading code MTR and invests in high potential mineral projects with a base, precious and strategic metals focus.
The Company's target is to deliver a high return for shareholders by investing in significantly undervalued and/or high potential opportunities in the mineral exploration and development sector. Metal Tiger has two investment divisions: Equity Investments and Project Investments.
Equity Investments invests in undervalued natural resource companies. The majority of its investments are listed on AIM, the TSX and the ASX, which includes its interest in Sandfire Resources Limited (ASX: SFR). The Company also considers selective opportunities to invest in private natural resource companies, typically where there is an identifiable path to IPO. Through the trading of equities and warrants, Metal Tiger seeks to generate cash for investment for the Project Investments division.
Project Investments is focused on the development of its key project interests in Botswana, where Metal Tiger has a growing interest in the large and highly prospective Kalahari copper/silver belt through its interest in Kalahari Metals Limited.
The Company actively assesses new investment opportunities on an on-going basis and has access to a diverse pipeline of new opportunities in the natural resources and mining sectors. For pipeline opportunities deemed sufficiently attractive, Metal Tiger may invest in the project or entity by buying publicly listed shares, by financing privately and/or by entering into a joint venture.
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