• Home
  • news
  • Metal Tiger plc - Options Grant and Issue of Equity

Metal Tiger plc - Options Grant and Issue of Equity

Metal Tiger Plc

11 May 2017

Metal Tiger Plc

("Metal Tiger" or the "Company")

Options Grant and Issue of Equity

Metal Tiger (LON: MTR), is pleased to announce that further to the recommendation of the remuneration committee (comprising Charles Hall, Non-Executive Chairman and Mark Potter, Non-Executive Director), the Board has approved the following performance share options (“New Options”) to existing Directors and an as of today unallocated pool of options to be allocated to key staff and management (the “Unallocated Key Staff and Management Options Pool”).

All New Options will vest immediately but only be exercisable whilst the director or staff or key management remains in the employments of the Company or any time after 12 month’s service from today’s date.

The New Options are to be awarded as follows:

Director   Position   Number of Options   Exercise Price   Expiry Date
Charles Hall Non-Executive Chairman 5,000,000 6p 11.05.2022
Michael McNeilly Chief Executive Officer 10,000,000 6p 11.05.2022
Keith Springall Finance Director 5,000,000 6p 11.05.2022
Alastair Middleton Technical Director 5,000,000 6p 11.05.2022
Geoff McIntyre Non-Executive Director 2,000,000 6p 11.05.2022
Terry Grammer Non-Executive Director 2,000,000 6p 11.05.2022
Mark Potter Non-Executive Director 4,000,000 6p 11.05.2022

Unallocated Key Staff and Management Options Pool: 12,000,000 New Options

Following the issue of the New Options above the total options held by the Board will be as follows:

Director   Position   Number of Options   Exercise Price   Expiry Date
Charles Hall Non-Executive Chairman 3,000,000

5,000,000

3p

6p

18.01.2020

11.05.2022

Michael McNeilly Chief Executive Officer* 2,000,000

7,500,000

10,000,000

2p

3p

6p

21.06.2019

18.01.2020

11.05.2022

Keith Springall Finance Director* 2,500,000

5,000,000

5,000,000

2p

3p

6p

21.06.2019

18.01.2020

11.05.2022

Alastair Middleton Technical Director 500,000

4,500,000

5,000,000

2p

3p

6p

21.06.2019

18.01.2020

11.05.2022

Geoff McIntyre Non-Executive Director 1,750,000

3,000,000

2,000,000

2p

3p

6p

21.06.2019

18.01.2020

11.05.2022

Terry Grammer Non-Executive Director 3,335,000

3,330,000

5,000,000

2,000,000

2,000,000

1.5p

2p

2p

3p

6p

15.12.2017

02.07.2018

31.05.2019

18.01.2020

11.05.2022

Mark Potter Non-Executive Director 1,000,000

4,000,000

3p

6p

18.01.2020

11.05.2022

* Options awarded under the Staff and Partner Options award approved by Shareholders at General Meeting (31.05.16)

Issue of Shares to Director

Under the terms of Alastair Middleton’s service agreement, he is entitled to a bonus of £12,000 to be taken in new ordinary shares in Metal Tiger plc. The Board and Alastair Middleton have mutually agreed to issue these bonus shares at 3p per share and therefore the Company is issuing 400,000 new ordinary shares in the Company to Alastair Middleton (the “Bonus Shares”).

The Bonus Shares are expected to be admitted to trading on or around 17 May 2017. Following the issue of the 400,000 Bonus Shares, the number of ordinary shares in issue in the Company will increase to 955,941,843 ordinary shares with one voting right each. 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 955,941,843 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:

Michael McNeilly (Chief Executive Officer)     Tel: +44(0)20 7099 0738
Keith Springall (Finance Director & Company Secretary) Tel: +44 (0)207099 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

James Crothers

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 AIM or NEX Exchange (formerly ISDX) partner with whom the Company is engaged.

Registered Office | 107 Cheapside | London | EC2V 6DN